Savings Account left to specified beneficiary

VicksLester
VicksLester Posts: 40 Forumite
edited 25 February 2013 at 5:31PM in Deaths, funerals & probate
Removed - posted twice

Comments

  • stevepett
    stevepett Posts: 79 Forumite
    Dangerous and unreliable practice.
    If you sold your house and put the money in that account for a couple of weeks, then die - they'd get the lot.
    Similarly, if the bank etc is taken over, the account may cease to be the same one, so they get nothing.
    We recommend percentages of estates rather than individual financial assets.
    One small bank account could be everything you have left if you end up in a care home, and that kind gesture could cut out the rest of the family!
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