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if i die soon
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Well I do not exactly mind my ex to get that money.as I do not think my daughter will have any other person who would hold her interests closer to heart. Just probably not all but half of it ... Anyway if she lives with him chances are if he is to be not ideal in dealing with it he will manipulate her in such a way so as to pay for what he wants her to at the age of 18.
So , who would be those trustees looking after death in service money ? Appointed by me in a will? Or by department of health ? Or my ex as he will be guardian ? Yes that money would be 4 times income so would cover remaining mortgage. I am not too hopefull it would be smooth though as dealing with NHS pension department is a major hustle when there are like 5 offices and it is almost impossible to figure out who counts what .The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
Often people seem to use this word mistakenly where "quandary" would fit better.0 -
I would have preferred to know what do I need to do so that the events develop by scenario 1 and what would I need to do so that they develop by scenario 2Sorry justme - trying to post and keep getting thrown out.
Do you want your ex to be able to access the money in your estate and or to be able to access the money in your death in service grant. Or do you want your daughter to get them when she is older?
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Silly me - just digested said before death in service money will be administered by NHS pension trustees. Question still stands as to the house and cash.The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
Often people seem to use this word mistakenly where "quandary" would fit better.0 -
Well I do not exactly mind my ex to get that money.as I do not think my daughter will have any other person who would hold her interests closer to heart. Just probably not all but half of it ... Anyway if she lives with him chances are if he is to be not ideal in dealing with it he will manipulate her in such a way so as to pay for what he wants her to at the age of 18.
So , who would be those trustees looking after death in service money ? Appointed by me in a will? Or by department of health ? Or my ex as he will be guardian ? Yes that money would be 4 times income so would cover remaining mortgage. I am not too hopefull it would be smooth though as dealing with NHS pension department is a major hustle when there are like 5 offices and it is almost impossible to figure out who counts what .
Your ex won't be her guardian if he's her father. He will still be her parent.
You can set up the trust in a will and appoint the trustees.0 -
Silly me - just digested said before death in service money will be administered by NHS pension trustees. Question still stands as to the house and cash.
I am not sure about this. My death in service grant would not be held in trust for under 18 year olds AFAIK.
You need to ask your pensions provider.
You could put any part of your estate in trust until DD is 21?If you've have not made a mistake, you've made nothing0 -
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I am not sure about this. My death in service grant would not be held in trust for under 18 year olds AFAIK.
I've just looked at the forms for the OP's pension scheme, here and it looks somewhat different to the schemes I've been in, probably because the NHS is a much larger employer and doesn't have the resources to pick up the pieces.
The death in service benefit goes to person/entity nominated on the form, otherwise spouse or civil partner, otherwise estate.
The two schemes I've been in reserved the right to "do the right thing" rather than push it through the estate, but it appears the NHS doesn't. That means the OP might be in for something of a mess if they died intestate: a solicitor will correct me, but I think they'd end up with their death in service benefit being held by the court of protection in trust for their minor child.0 -
Thank you. Whatever it is as I got no idea whether it would be better for my daughter for her dad to get hold of it or for her to get it once she is 18 I guess I will do nothing ...
My daughter is nominated on the form.
Anyway still have no idea what happens to house/equity in it/ bank accounts...The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
Often people seem to use this word mistakenly where "quandary" would fit better.0 -
Not sure how many different ways to phrase it but MAKE A WILL ! Even using a solicitor or will writer it won't cost a lot
You have assets other than the D-I-S benefit which currently require administering if should die. Yes they almost certainly will pass to your next of kin but if you have a will its clear and unambiguous and also you can then decide to create a trust as above until daughter hits 18 or 21.
Wills should be updated if you marry or have any other children.
Also look at life assurance for the mortgage, it could set your daughter up for future life if somethiong was to happen, and depending on your age and health is cheap to buy0 -
Malcnascar wrote: »Sorry to jump in on this, lots of good advice.
Just wondered why a Will was not drawn up when you separated and well before you divorced, was it recommended? I'd hate to think you ex would have been main beneficiary if you tragically died before the divorce finalised
When we were divorcing we had nothing ... In any case as he we were and stil are quite friendly.
Re make a will - we are going round in circles , if I do not see why to make it I will not. I am lazy and try to avoid doing things if I can and I am not keen in spending money on solicitors .The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
Often people seem to use this word mistakenly where "quandary" would fit better.0
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