Nomination of the Beneficiary

WorldCitizen

Hello, I have a question to you smart forum people
1. My husband has been enrolled to his employer's group pension plan with Royal London.
The plan type is - Retirement Solutions Group Personal Pension Plan (if that makes sense).
Now he needs to fill the form 'Payment of benefits on Death'. He wants just to put me - his wife.
But I am thinking - is it good idea to put our adult son as well?
I mean if we died together one day how the pension company will know that we have children if they wasn't mentioned as beneficiaries?
We have son 19 y.o., who is born in other EU country, so he doesn't have the UK birth certificate, and a daughter 7 y.o., who was born in the UK.
2. Actually I have another question - we don't have any wills. What happens when parents die and how then their children can get parents' property? I imagine they go to solicitor with their birth certificates to show that they are relatives and get 50/50 each? We don't have any assets other than our mortgaged flat at the moment.
Sorry if my questions are silly.

Brynsam

WorldCitizen wrote: »

Hello, I have a question to you smart forum people
1. My husband has been enrolled to his employer's group pension plan with Royal London.
The plan type is - Retirement Solutions Group Personal Pension Plan (if that makes sense).
Now he needs to fill the form 'Payment of benefits on Death'. He wants just to put me - his wife. He can show you as the recipient, with a note saying that if you do not survive him, the proceeds show be spit equally between your children [give names/dobates of birth to help identify them].
But I am thinking - is it good idea to put our adult son as well?
I mean if we died together one day how the pension company will know that we have children if they wasn't mentioned as beneficiaries?
We have son 19 y.o., who is born in other EU country, so he doesn't have the UK birth certificate, and a daughter 7 y.o., who was born in the UK.
2. Actually I have another question - we don't have any wills. What happens when parents die and how then their children can get parents' property? I imagine they go to solicitor with their birth certificates to show that they are relatives and get 50/50 each? We don't have any assets other than our mortgaged flat at the moment. Nothing as simple as that - there's a whole long process to go through involving letters of administration (google on 'dying intestate') and it will be a miserable task for your 19 year old. Why not get wills - not least to ensure that you can name a guardian for your daughter, given that she is under 18. If you don't name a guardian and you are (say) both killed in a car crash, the local authority will take decisions about her future. Do you really want that?
Sorry if my questions are silly. Not having a will when you have a young child is far worse than merely being silly! Do something about it, for her sake and your peace of mind.

See above. Hope it helps.

WorldCitizen

Brynsam, thanks for your reply!
I thought that her older brother will be automatically her guardian.
I really need to do something about that.

xylophone

I thought that her older brother will be automatically her guardian.
I really need to do something about that.

You should both make a will.

https://www.co-oplegalservices.co.uk/media-centre/articles-jan-apr-2017/choosing-a-legal-guardian-for-your-children/

AnotherJoe

WorldCitizen wrote: »

2. Actually I have another question - we don't have any wills. What happens when parents die and how then their children can get parents' property? I imagine they go to solicitor with their birth certificates to show that they are relatives and get 50/50 each? We don't have any assets other than our mortgaged flat at the moment.

The children are annoyed that their parents didnt have the foresight to make a simple will and instead cause them a whole load of hassle and aggravation.

WorldCitizen wrote: »

We don't have any assets other than our mortgaged flat at the moment.

You have no money at all in banks? No jewelry? No cars? Bicycles? Furniture? Computer? Phones? Nothing at all?

Edit, just realised, apparently like the OP You also have a 7 year old daughter !!! Are you just leaving to chance who would look after her ?! You have no particular wishes as to who would care for her in the event you both died ? You wouldn't, say, prioritise the property to be used for the 7 year old until she was old enough that it could be sold and split between both children? What if the 19 year old doesn't want to or cannot look after her ? Do you have joint life insurance ?

DigForVictory

Just reading the OP, Get the Will Sorted first!

Get a passport sorted for the elder child so the whole 'prove your identity' malarkey is 98% sorted. If eligible for a (provisional) driving licence, hike him through the application for that too & he has almost everything he'll need to prove he is who he says he is to anyone who might enquire.

You have a 7 yo daughter & No Will? May I politely suggest a pension is a side issue compared to the responsibility of a living breathing young person who will need caring for if you go under a bus? Plus brother may not be able to be guardian solo if trying to earn a living - so have another named person lined up?

Mojisola

WorldCitizen wrote: »

I thought that her older brother will be automatically her guardian.
I really need to do something about that.

What if Mum, Dad and older brother all die together in a car crash?

A good solicitor will cover several different scenarios in your will.

Personally, I wouldn't want an older child who was dealing with the deaths of both parents to have to cope with the responsibility of bringing up a younger sibling.

WorldCitizen

AnotherJoe wrote: »

You have no money at all in banks? No jewelry? No cars? Bicycles? Furniture? Computer? Phones? Nothing at all?

Yes I have some jewellery, we have some money in a bank, 2 electrical bicycles and of course computers and phones, tv and furniture....:rotfl:
Just I didn't think I should count this. I thought in a Will we should speak about Property and Pension pots.

WorldCitizen

Great THANKS to everyone who replied!
I want to give a clarity why we don't have Wills.
We are a family from Eastern EU country, where usually people don't have Wills. They have in certain circumstances, but rest of them not. In case of death of both parents, some member of family usually takes the care for a child and then reports this to the state to record the new guardian. Maybe the state do checks about child's living conditions, but in general family decides who will care about the child.
We educate our children to help each other, so our son knows he will be guardian if need be.
Also it's not the problem to get assets/property after parents death. Just go to the solicitor with parents death certificate and childrens' birth certificate. Yes with Will it could be done just in one day, but without it a bit longer, but with no problems at all.
Here my confusion is from. Actually it's my mistake. I just live in one country with the rules in the head from another....

WorldCitizen

DigForVictory wrote: »

Get a passport sorted for the elder child .....
..... Plus brother may not be able to be guardian solo if trying to earn a living - so have another named person lined up?

We have UK passports for all of us.
About guardian - the other members of family (my and husband's brothers) live outside the UK. Can we still put them as a guardian? But preference would still be the brother in our case.

WorldCitizen

I am very appreciated for your help!
I have searched how can we make our Wills.
I understand that we need to do Mirror Wills.
Can we use these websites (online services)?
https://www.makingawill.org.uk/articles-making-a-will-in-scotland-details-4.html
https://www.mylawyer.co.uk/wills-and-probate-centre-w-77208/

Do they have any differences?
We are based in Scotland.