5 things to do financially before you die

Pinkie56

Did anyone hear Martin on the 11 July on Jeremy Vine radio 2 show giving advice on the 5 things to do before you die. I only heard the one about setting up an enduring power of attorney and then was interrupted and did not hear the rest and I cannot find his advised list anywhere. And I am unable to listen to this show again. Can anyone help me please? :question::question::question:

yangptangkipperbang

Spend your last pound the day before !!

dunstonh

I didnt hear the show but 5 obvious ones are

1 - Will
2 - lasting power of attorney (not enduring as they havent existed for many years now)
3 - nomination of beneficiary/expression of wish on pensions.
4 - check financial provision for financial dependants (and do something about it if you can)
5 - estate planning (if applicable).

kidmugsy

Organise records so that your widow knows where the money is and can access some of it quickly.

Mojisola

There's more than five here but all worth looking at -
https://www.moneysavingexpert.com/family/death-plan

Pincher

The problem is the £325k IHT threshold. We need to raise it to at least £1million, preferably £2million. If I could get the threshold lifted to £2million, it will save a hell of a lot of faffing around.


Financial Planning? Write a Will? Have you spoken to these paranoid ignoramuses we call parents? My father secretly had a cheap will done, and gave me a house that wasn't even in his name.

greenglide

My father secretly had a cheap will done, and gave me a house that wasn't even in his name.

As opposed to an expensive will that gave you a house that wasn't in his name?

When a will is drawn up nobody actually checks that any specific items named are actually owned by the bequestor!

Pincher

greenglide wrote: »

As opposed to an expensive will that gave you a house that wasn't in his name?

When a will is drawn up nobody actually checks that any specific items named are actually owned by the bequestor!

The point is his Will made going through Probate a fiasco. If he hadn't made a bad Will, everything would have passed to my mother by default, and all was well. As it turns out, we had to pay accountants and lawyers to come up with evidence that we didn't do something underhanded.

If we had tried to burn the Will, and pretend it didn't exist, that would have been even more interesting.

System

Pincher wrote: »

If we had tried to burn the Will, and pretend it didn't exist, that would have been even more interesting.

My father's will was lost in the post between two solicitors in the middle of the process. We had to go to court to swear that we had seen it, and that the copy was indeed correct.
Having sorted that out the original will turned up, after 2 months. The solicitor said we would have to go through the process again to un-swear the substitute. She was horrified at my suggestion that we could simply lose the original again.

Pincher

Clifford_Pope wrote: »

My father's will was lost in the post between two solicitors in the middle of the process.

Solicitor's mail system have a life of their own.


I turned up to sign for something once, and the solicitor glared at me for not sending something back, accusingly. A couple of days later, it turned up in my letter box, and the post mark was for one day before the appointment.


I later found out that junior solicitors may think they have sent something, but actually the senior partners pile them up to check before sending out. Then they are too busy playing golf, Golf Wednesday especially, so it gets delayed. One or two weeks later, too many to go through, so a whole pile goes out at once.

MiserlyMartin

Clifford_Pope wrote: »

My father's will was lost in the post between two solicitors in the middle of the process. We had to go to court to swear that we had seen it, and that the copy was indeed correct.
Having sorted that out the original will turned up, after 2 months. The solicitor said we would have to go through the process again to un-swear the substitute. She was horrified at my suggestion that we could simply lose the original again.

Was there any point in telling the solicitor it had turned up?