Husband deceased with debts - Pension help please

Sirlaughalot

If the debt has to be paid she may decide to use the pension on off payment to help pay off some of the debt. As an NHS nurse of 40 years standing I suspect her pension on retirement will be more than enough.

My Sil has twins who have just started university this year and she seems intent on covering most of there living expenses herself which has left her cash extremely stretched at the moment

Yorkshireman99

Sirlaughalot wrote: »

They are Members of The Society of Will Writers and estate planners so i will give them the benefit of the doubt for the time being

You need to consult a qualified solictor not cowboys!

Sirlaughalot

Yorkshireman99 wrote: »

You need to consult a qualified solictor not cowboys!

I have every intention of consulting a solicitor I only have raised my concerns here to try and clarify what options my sil may have during this difficult time.

Thanks

Sirlaughalot

Do life insurance policies made payable to the spouse form part of my brother's estate?

getmore4less

Sirlaughalot wrote: »

She went to the bank yesterday and their joint current account and savings account have been transferred to her name.
My brother's debts were in his sole name and with the same bank as their joint accounts. My question is do the joint bank/savings accounts form any part of my brother's estate.

The bank will almost certainly have had setoff clauses on the accounts,

The question will be have they lost those having removed the deceased from the accounts.

getmore4less

Is there a mortgage?

Sirlaughalot

getmore4less wrote: »

The bank will almost certainly have had setoff clauses on the accounts,

The question will be have they lost those having removed the deceased from the accounts.

A letter from the bank regarding the debt arrived today from the bereavement departmant highlighting the dept and if there were funds in the estate to pay for it.

Sirlaughalot

getmore4less wrote: »

Is there a mortgage?

no there is no mortgage

buildersdaughter

Sirlaughalot wrote: »

If the debt has to be paid she may decide to use the pension on off payment to help pay off some of the debt. As an NHS nurse of 40 years standing I suspect her pension on retirement will be more than enough.

My Sil has twins who have just started university this year and she seems intent on covering most of there living expenses herself which has left her cash extremely stretched at the moment

As part of financial planning, I would suggest that your SiL gets a pension forecast, both from the NHS and her State Pension. It is true that if she has been in full time work for 40 years, and paid in for all of that time, she should have a decent pension. But many nurses work part-time for some years, choose not to pay in for some of that time etc. So I would get some clarity.

silvercar

My Sil has twins who have just started university this year and she seems intent on covering most of there living expenses herself which has left her cash extremely stretched at the moment

The twins should be taking maintenance loans from the student loan company. Unless they are very high earners in the future, they are unlikely to have to pay them all back.

If they already have student loans, and the amount was assessed while their father was working, they should ask for their loans to be reassessed. If the family income has dropped more than 15% since the assessment was made, they have the right to do this.

They should also be looking at their university for bursaries etc.