Transferring savings to spouse before death

Newly_retired

Also you cannot transfer ISAs.
Beware if the spouse/ recipient of the money is on certain benefits eg Pension Credit, that the extra money does not put them over the capital limit.

hcb42

Funeral directors are generally sympathetic and do not push for immediate payment

seemskerfuddled

I have had to deal with all this having lost my husband 18mths ago and being totally clueless. Make sure you and your spouse have a specific file (s) for your banking/investments/savings/pensions which should be updated on a regular basis. All the banks/building societies/portfolio managers/utitlity companies etc are very aware of the trauma all this can cause and very sympathetic and helpful. It's a minefield but you get there in the end. Something I wasn't aware of (until a friend mentioned it) and would urge everyone (widow/widower) to take up immediately is the Bereavement Benefit (was £3000 last year 2010). I did it through the local Job Centre - just ring them to make an appointment. They were extremely helpful but be prepared to take certain documents. This payment tides you over whilst dealing with Direct Debits and the rest. Best Wishes and Good Luck.

Biggles

seemskerfuddled wrote: »

Something I wasn't aware of (until a friend mentioned it) and would urge everyone (widow/widower) to take up immediately is the Bereavement Benefit (was £3000 last year 2010).

Well, not everyone, it's fairly limited: http://www.direct.gov.uk/en/MoneyTaxAndBenefits/BenefitsTaxCreditsAndOtherSupport/Bereaved/DG_10018703

agrinnall

Biggles wrote: »

Well, not everyone, it's fairly limited: http://www.direct.gov.uk/en/MoneyTaxAndBenefits/BenefitsTaxCreditsAndOtherSupport/Bereaved/DG_10018703

And for anyone who can't be bothered looking at the link, the sum is now £2000.