Getting ready for prison

Marcy1_2

Hi everyone

Although an avid reader of MSE website, i have never posted in here before, but could really do with some advice

My partner has just been charged some criminal offences and is facing a lengthy prison sentence if he is found guilty. I know the whole court system works slowly, but I need to hope for the best and prepare for the worst, so want to be prepared early

If he does get sentenced, what should we have done in order to sort out finances to ensure I am not stuck with debt due to not being able to pay the bills? We have a joint mortgage and a (small) joint bank account as well as our own individual accounts

Would it be advisable to get Power of Attorney so I can manage both his money as well as mine? Should I get the house, cars etc moved into my name?

I know many people will wonder why I am still with him, but I honestly believe he is not guilty, so want to stick with him.

Any help would be greatly appreciated

Thank you

fierystormcloud

Hmmmm, it does seem strange that someone posted a thread like this, after Sici's thread where she got shedloads of support.

Coincidence maybe?

Marcy1_2

That is not the case at all. Yes, the other post inspired me to post, but I am asking different questions. The last thing I want to do is hijack anyone else's thread

GwylimT

If genuine do get power of attorney.

You also need to plan on how you are going to cover all bills on one income, you can't simply put the house in your name only if he is on the deeds, you would also need permission from the lender. You can put his vehicle in your name but you would then have to retax it and put yourself as the main named driver on the insurance and actually be the main named driver.

macman

A quick Google cam up with this charity:
http://www.prisonadvice.org.uk/

Mojisola

http://www.prisonersfamilies.org.uk/Family_Member_in_Prison/home_page_family_member_in_prison_.aspx

The 'Publications' page has some useful booklets.

Marcy1_2

Thanks GwylimT

I will struggle to pay mortgage on just my income so will have to speak to lenders to extend mortgage period in order to reduce payments and also to take his name off mortgage. Had not thought about the deeds either, so thank you for the heads up.

I presume that by having POA I can do this without too much hassle?

I would look at having his car put into my name only so I could sell it as I already have a car, so don't need a second one. If I had POA, would it even be necessary to change to my name?

Sorry if this is all muddled. It's all kinda tough to sort my thoughts out at the moment

Marcy1_2

Thanks for the links. Very useful info. Nice to see there is advice out there

Mojisola

Marcy1 wrote: »

I will struggle to pay mortgage on just my income so will have to speak to lenders to extend mortgage period in order to reduce payments and also to take his name off mortgage. Had not thought about the deeds either, so thank you for the heads up.

You won't be able to do that unless you can get a mortgage based on your income alone.

I presume that by having POA I can do this without too much hassle?

Having POA means that you have to manage his financial affairs in the way that benefits him most. Removing him from the house deeds certainly isn't to his benefit.

I would look at having his car put into my name only so I could sell it as I already have a car, so don't need a second one. If I had POA, would it even be necessary to change to my name?

Sorry if this is all muddled. It's all kinda tough to sort my thoughts out at the moment

You're not alone - get in contact with the organisations that support prisoners' families - they will have the experience necessary to help you through this difficult time.

GwylimT

Marcy1 wrote: »

Thanks GwylimT

I will struggle to pay mortgage on just my income so will have to speak to lenders to extend mortgage period in order to reduce payments and also to take his name off mortgage. Had not thought about the deeds either, so thank you for the heads up.

I presume that by having POA I can do this without too much hassle?

I would look at having his car put into my name only so I could sell it as I already have a car, so don't need a second one. If I had POA, would it even be necessary to change to my name?

Sorry if this is all muddled. It's all kinda tough to sort my thoughts out at the moment

You can only remove him from the mortgage if the lender believes you can afford to pay the mortgage alone, they may allow you to pay interest only for a fixed period depending on how long you have owned the house.

If you have more than one bedroom you could get a lodger for extra money.

Primrose

I was going to suggest getting a lodger to help with the mortgage. You are allowed to earn up to a certain amount from renting out a room withiut declaring it for tax. If you Google this I'm sure you'll get full details.
Also if you have no children and will be be the sole occupier of the house if a prison sentence is involved you may be able to claim a 25% sole occupier reduction for the duration on your council tax. Onviously this wouldn't apply if you had a lodger though.