What to do when a partner/spouse dies.

Andreas83

Apologies if this has been said. Not really 'to do' more just a bit of info:

The executor or administrator will need a grant of probate to distribute the estate.

Anything jointly owned (such as bank accounts, house if joint tenancy) pass directly to the spouse and avoid tax.

Any insurance policies (e.g. life or pension) that are payable to someone else (i.e. not to the deceased) are not part of the estate for tax calculation either.

The first £285 000 is tax free and the rest is at 40%, which needs to be paid before the estate can be distributed, can be arranged to be paid out of the estate by the executor/administrator if the relevant bank agrees.

With regards to making a will you can buy kits - but if the estate is relatively big (i.e. above the £285000 0% inheritence allowance) it is well worthwhile paying a solicitor to do it. They will easily save you more than £100 in tax planning and if there is something majorly wrong with it you have a fall back by way of suing for negligence.

MJay

I have just compiled a brief handout out for a Bereavement training course that may be useful. It takes a 'personal' view of death and a check list for us to consider NOW for ourselves alongside some 'potted' grief information and some pointers to resourses. The handout lists loads of practical things to consider and some pointers to emotional matters. I am happy to post it in here but not sure how to add an attachment.... Also, I have no problem in others using it providing it is recognised as mine. Cheers Mary

MJay

Dear AndyC1909,

Just read your mail and wanted to say thank you for raising so many difficult and painful issues for parents and children when there is a death without formal partnership. The 'in-laws' can sometimes be awful to the surviving adult who already has more than enough on their plate and even more so when the death was suicide. You seem to have your hand 'on the tiller' and have no doubt had to..... I am glad that you have identified helping agencies and even though this is not for you at the moment, I do hope that you have someone around who is there for you...... You take care out there. Mary

Morglin

mskitten2904 wrote:

hi, I may be wrong but I think it is only people with low income that can recieve help with funeral costs but that does not necessarly mean you have to be claiming benefits?

A Funeral Payment (via the Social Fund), being given depends on whether the person responsible for paying the funeral costs is getting a means tested benefit (this can be Housing Benefit/Council Tax Rebate, Income Support or certain tax credits).

The amount they pay varies, and if the 'estate' has any money, then it has to be paid back. It doesn't generally amount to enough to cover the whole cost of even a basic funeral.

http://www.jobcentreplus.gov.uk/JCP/Customers/WorkingAgeBenefits/Dev_008260.xml.html


The Bereavement Payment (currently £2000) is paid, regardless of income, to the surviving spouse, (and spouse alone), assuming that the deceased was not over pension age, and that s/he had paid enough National Insurance contributions during their working life.

http://www.jobcentreplus.gov.uk/JCP/Customers/WorkingAgeBenefits/Dev_007956.xml.html

Lin

montycat_2

Hi Lin ,

That is what happened to me ,The Benefit paid but ,it had to be paid back when my Husbands estate was settled .

I didn't begrudge paying it back as after all that was why my Husband had Insurances .

Another point as well is if you inherit a large sum of money ,seek Financial Advice .I refused to tie my money up in Inheritance Tax Issues as ,I want to provide for my kids and I now .My youngest is 6 so a whole life ahead of her .I have (with advice) taken out Investments products which mature at 1 year ,2 year and 5 year respectively .(one of these has Life Insurance included).

I have a will which lists 2 alternative sets of guardians (just in case) and the Guardians are of an age to be able to cope with 3 children .The grandparents are aware that they will NOT be appointed as Guardians and ,are happy with this (at 70 years + I can see why ) .

When you have young children and ,are the Sole Parent it is imperative that you let everyone know what your wishes are .

JoBridger

Martin - I hope this doesn't count as promoting a business but we have a practical guide to handling a death in terms of money and Probate on our website at https://www.trustcorporation.com. We also offer a free and without obligation Probate helpline where people can get legal and tax advice on Probate. We are Probate experts so obviously one reason for doing this is winning business but we find that 7 out of 10 callers have straight forward situations and we give them the free advice they need to be able to do everything themselves.
One more point which especially applies if one person in a couple tends to do all the finances. It is really important to make a list of assets and keep it with relevant documentation such as contact details.

seroxat_chick

JoBridger wrote:

Martin - I hope this doesn't count as promoting a business but we have a practical guide to handling a death in terms of money and Probate on our website at www.trustcorporation.com. We also offer a free and without obligation Probate helpline where people can get legal and tax advice on Probate. We are Probate experts so obviously one reason for doing this is winning business but we find that 7 out of 10 callers have straight forward situations and we give them the free advice they need to be able to do everything themselves.
One more point which especially applies if one person in a couple tends to do all the finances. It is really important to make a list of assets and keep it with relevant documentation such as contact details.

I don't understand the need for a middle-man when you can easily get the same free advice from the Probate Registry itself

I also wasn't aware that 0845 numbers were now free - you learn something new every day!

[Deleted User]

This very important thread should be a sticky.

layercake

My dad died about 3 years back. The law was changed at some point before that so the maximum widows state pension my mother could claim was 2 years worth (added up to about 2k).

Personally, I was disgusted by this. 35+ years of paying contributions adds up to that. Also, you dont find this out till you get there, and your in no fit state to deal with it or kick up a fuss.

On a more positive & constructive note, if your deceased partner had more no claims bonus that you, your insurance company may mirror that onto you to keep.

[Deleted User]

we need to bring our wills up to date and reading the above, my dh and I will be setting up EPAs.

Can I have some advice on appointing an executor. Last will we appointed 2 of our children but would it be best to appoint each other instead