Father died, pension paid to children..

snowqueen555

Just popping in to say good luck with everything and please keep us updated, would like to see how this turns out.

Thanks

Annisele

The_Big_H wrote: »

EDIT: I have found that my dad also had an over 50 scheme with Halifax that will pay out a few k upon his death. Would anyone here know if this does count towards his estate? If it does, then this money effectively would then be used to pay part of his debts.

Depends how the policy was set up. If it was written in trust for the benefit of you/your brother/John Doe, then the payment will be made to the beneficiary and won't form part of your Dad's estate.

If it wasn't written in trust, and was simply owned by your Dad, then the life cover will form part of his estate. It should go firstly to paying the funeral costs, and if there's anything left over it should be split pro rata between the creditors.

property.advert

Get whatever cash comes in from plans and the sale of a car, sort out funeral expenses, have a few drinks to spend the rest and tell Tesco and the rest to take a long walk off a short pier.