What to do with around £140k

ColdIron

MaxiRobriguez wrote: »

Bank protection is up to £85k so the first thing you'll want to do is ensure your £140k is split between at least two bank accounts (not going above £85k in both) whilst you decide what you want to do.

OP talks of 'our' and 'we'. Joint accounts are covered to £170,000

IHateDida

ColdIron wrote: »

OP talks of 'our' and 'we'. Joint accounts are covered to £170,000

Haha....well yes - but we're not married and I think I would prefer to keep reins of it for now!!!!!

Thank you everyone for the advice....I'm going to ponder on it over the weekend - really appreciated.

Flugelhorn

I have had similar with an inherited house sale and pension lump sums - have put the lot into NS&I it is fully protected there

badger09

@ IHateDida

Condolences on your recent loss.

There really is no need to panic or to make any rushed decisions. Just put your inheritance somewhere safe (like NS&I) for now and you can look at your options for the longer term, when your brain is clearer.

If you've been caring for your father for several years, you probably need a break. Treat yourself to one and toast your father's memory.

IHateDida

badger09 wrote: »

@ IHateDida

Condolences on your recent loss.

There really is no need to panic or to make any rushed decisions. Just put your inheritance somewhere safe (like NS&I) for now and you can look at your options for the longer term, when your brain is clearer.

If you've been caring for your father for several years, you probably need a break. Treat yourself to one and toast your father's memory.

Oh bless you - what a lovely post! He actually died last year after a very long drawn out illness. Its taken until now to actually sort through stuff and get a bit more organised.

To add to all the stress - I am also 7 months pregnant! So my toast might just be a glass of aple juice for now! :rotfl:

Thats really good advice thank you - I was starting to panic as solicitor has been on the phone sorting out the finance side.

Flugelhorn

good luck with the arrival of the little one!

just also going to mention that if you are concerned about protecting the money if gthe balance is over 85K and you haven't shifted it elsewhere then there is "protection for temporary high balances" in accounts for situations like this

TBC15

What’s wrong with splitting it with other half and put it all in Marcus?

badger09

IHateDida wrote: »

Oh bless you - what a lovely post! He actually died last year after a very long drawn out illness. Its taken until now to actually sort through stuff and get a bit more organised.

To add to all the stress - I am also 7 months pregnant! So my toast might just be a glass of aple juice for now! :rotfl:

Thats really good advice thank you - I was starting to panic as solicitor has been on the phone sorting out the finance side.

Fairly recent bereavement and baby brain:eek: Definitely not the time to be making potentially life changing financial decisions.

xylophone

For when the little one makes his (her) appearance....:)

https://www.gov.uk/junior-individual-savings-accounts

IHateDida

TBC15 wrote: »

What’s wrong with splitting it with other half and put it all in Marcus?

Erm....nothing wrong at all - just hoping he won't run of course!!! But whats Marcus if I'm not being too thick???? I do like to be responsible for my own finances though!