advice regarding Phillips and Cohern chasing debts

Tom99

Savvy_Sue wrote: »

I think you're wrong here: yes, the money passes to you, BUT I think half of it still counts as part of his estate unless you can show some other proportion of ownership should be used.

I know I'll be picked up on this if wrong, and it's a few years since I had to do this ... but my memory is that when Dad died we put half the joint account down within his estate, but when Mum died holding a joint account with my brother, we put it all down as part of her estate because although he now had access to that money, he didn't regard it as his and we divvied it up as per the will.

[FONT=Verdana, sans-serif]I agree with you and think badmemory is wrong.[/FONT]
[FONT=Verdana, sans-serif]Anything in joint ownership like a bank account of a joint tenancy house automatically becomes the sole property of the survivor but that part previously owned by the deceased is still part of their estate which passes by inheritance.[/FONT]
[FONT=Verdana, sans-serif]You can't lease your joint assets in a will but that's different and joint assets do not need probate nor does an executor administer those assets.[/FONT]
[FONT=Verdana, sans-serif]You do have to declare them for IHT and unless the joint owner is a spouse your %age ownership will be subject to IHT.[/FONT]
[FONT=Verdana, sans-serif]Your example of a child sharing a joint bank account with a parent is another good example. The IHT guidance note are quite clear on this, if the money is the parents money because they are the one paying in all of the money into the account then 100% of the balance must be entered as the parents and subject to IHT.[/FONT]

-taff

Send them the prove it letter [ look on the debt free wannabe board]
Depending on what comes back it may be a debt or it may be statute barred, it may not...If it isn't, send them a CCA request.

That should keep them busy for a while and establish whether or not he did owe a debt, and then whether or not it is enforceable.


Edited - here's the link
https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter

idrankthecoolaid

badmemory wrote: »

To be honest this to me is the very opposite of a reputable company. To "try it on" because you think you can get away with it because the person who used to owe the money has died & maybe the executor may not know it has been repaid is not good.

True, maybe I meant that I have no doubt they are a bona fide company.

Even in the case of the debt that is still outstanding (an electricity bill, that I have not paid as I want to pay a final one, and the property has not been sold yet (so I have no final reading), the electricity company are still sending me bills directly (as an executor) and I can still pay in the normal way (so why this company have gotten hold of the same account, I dont know)

kidmugsy

I think that in your shoes I would demand evidence of these purported debts. If they didn't provide any I might then tell them that if they didn't lay off I'd go to the police to complain of harrassment.

Linton

idrankthecoolaid wrote: »

True, maybe I meant that I have no doubt they are a bona fide company.

Even in the case of the debt that is still outstanding (an electricity bill, that I have not paid as I want to pay a final one, and the property has not been sold yet (so I have no final reading), the electricity company are still sending me bills directly (as an executor) and I can still pay in the normal way (so why this company have gotten hold of the same account, I dont know)

Have you discussed your payment proposal with the electricity company? When I sold my father's house they were happy not to take any payments until the house was sold when a final account could be sent.

Uxb

idrankthecoolaid wrote: »

Even in the case of the debt that is still outstanding (an electricity bill, that I have not paid as I want to pay a final one, and the property has not been sold yet (so I have no final reading), the electricity company are still sending me bills directly (as an executor) and I can still pay in the normal way (so why this company have gotten hold of the same account, I dont know)

The electric account should have been closed at the date of the death
Any outstanding amount is then a debt on the estate or maybe if a repayment due is an asset.
Then a new electric account should have been opened as executors of the deceased from which to pay usage during the estate admin period.

I've dealt with the firm as part of a very large outstanding bill due at death and found them better than dealing with the wretched electric company's call centre. I actually regarded it a good news that a solicitors representing the electric company was now dealing with it.
I found them quite reasonable in having wait till probate was granted before they were getting their (massive) wodge due to them.

Sea_Shell

I agree with those above which have said to send a "prove it" letter. These companies seem to "fish" for debtors regardless of whether they have the right person or not!!! Don't pay anything without proof that this was a real debt, in their name.