Making a will, what we need to know?

Savvy_Sue

Robin9 wrote: »

Go armed with your dads and your addresses.

The solicitor will tell you what they need, but you and your dad will have to prove your identity. Passport, driving licence - photo ID of some kind.

You might save something by getting yours drawn up at the same time but even if you don't, it's worth doing.

One way of ensuring you can access some of Dad's funds quickly after he dies is by opening a joint account. BUT I only suggest this because it's all coming to you anyway, and there are drawbacks. Also I would NOT recommend this if either of you is claiming means tested benefits.

Robin9

Savvy_Sue wrote: »

The solicitor will tell you what they need, but you and your dad will have to prove your identity. Passport, driving licence - photo ID of some kind.....

Is this new requirement - not come across this before ?

donnajunkie

DigForVictory wrote: »

The (two)Powers of Attorney means if your dad has a stroke or something you can (a) run his finances &/or (b) make decisions on his health for him, depending on what's sorted. Not cheap, but much less expensive to have drawn up in case than try to sort later once competence is definitely lost.

He may well not care about a funeral but you may find it comforting to know he's made a few choices, expressed a mild preference, etc when the time comes and you have to deal with not just the estate but also the corpse.

It's a lot easier for the bereaved if it has been agreed in advance.

The savings are too modest to really justify any big cost. How much would that add to the cost?

donnajunkie

badmemory wrote: »

Probate is just sending the will off to get it legally recognised/registered & is generally fairly straight forward & checks if any tax is due, which is not the case in most cases. Normally just a form filling box ticking exercise, with very good notes as to what should go in what box & when in doubt the lovely people on here will help.



A power of attorney can be invaluable. It can make sure that his loved ones can ensure that he can be taken care of if ever he can't take care of himself, rather than letting the LA take over his finances. Both the Finance & Welfare can be done on line - keep the requirements simple


Edited to add


It makes life a lot simpler for all to have these things in place. We talked about the POA & funeral thing with my mother in the January when she was still "firing on all cylinders" & fortunately she did not put off dealing with it. In June she had been in hospital 2 weeks after a fall & couldn't remember how to make a pot of tea! No stroke or anything like that they assured us. If it hadn't been sorted back then we would have been in real trouble. At that time I couldn't have even afforded to replace one of her hearing aids!

So probate is just filling in a form and sending it off? Or is it sending the will to be checked?
Dont you have to have a large sum for the authorities to take it to pay for care?

donnajunkie

MovingForwards wrote: »

Probate is when the person dies, the estate (assets) are calculated, debts are deducted and the figures filled into the form for the probate office to enable them to do the grant of probate. It costs and that depends on the size of the estate.

When the grant is received all the assets can be gathered up from banks, things sold etc, debts are then paid after that the beneficiaries get their money.

You sound like you are panicking, first thing is to make an appointment with a local firm to get the wills drafted, then signed on the second visit. The secretary or receptionist will be a witness, the solicitor will be a witness.

Funeral fees just require an invoice from the funeral home, that's given to the bank with a copy of the death certificate, if not already provided, and they pay the funeral home.

When you have your will and your dad's will signed, do another post about probate.

Also, ask your dad to consider a power of attorney naming you and someone else he trusts as a back up, to act on his behalf in case he becomes incapable of dealing with his finance.

I guess i do panic a bit at the moment, life has been very bad lately and is affecting my health and it is making me fear being left in a difficult situation when he goes.

donnajunkie

Robin9 wrote: »

He may not but - think about it - what would you do when that day arrives ? Would you know what funeral director to contact ? Would he want a wake- a big booze up ?

Even when a death which is expected there a lot of things which have to happen - doctor confirming death, death certs, people to contact. You will be mourning, in shock.

I have a strong memory of when it happened to my mother. Even though i Was very young i do have some experience of it. I dont think there would be a wake. It would be the co op, pick a coffin and gravestone, decide number of cars and be at the local church.

Savvy_Sue

Robin9 wrote: »

Is this new requirement - not come across this before ?

Been going on for several years. Know Your Client / Customer. The article talks about banking, and may not be specifically UK focused, but it applies to many sectors.

When DH came to an appointment at the accountants with me after my father's death, HE had to prove his ID as well as me, even though I was the client!

When we went to see our mortgage adviser on a follow up appointment, we were asked to take passports as they didn't have a record from our initial visit.

badmemory

It may be a good idea if he doesn't have a lot of money to actually buy a funeral now. This would reduce his savings & could make means tested benefits start earlier & will be something you wont have to sort yourself.

DigForVictory

donnajunkie wrote: »

The savings are too modest to really justify any big cost. How much would that add to the cost?

Gruesome truth is that it depends on what will kill your dad. Dementia is eventually self-limiting as the victim forgets how to operate their own body. Alzheimer's means the body is working but the cognitive powers have shut down. That latter is very expensive to look after & can be a decades long proposition, which is where power of attorney is worth every tuppence. As Next of Kin, you may manage to get by without the health power of attorney longer than you can without the financial one.

That pneumonia was nicknamed "the old man's friend" was always a very dark joke.

donnajunkie

DigForVictory wrote: »

Gruesome truth is that it depends on what will kill your dad. Dementia is eventually self-limiting as the victim forgets how to operate their own body. Alzheimer's means the body is working but the cognitive powers have shut down. That latter is very expensive to look after & can be a decades long proposition, which is where power of attorney is worth every tuppence. As Next of Kin, you may manage to get by without the health power of attorney longer than you can without the financial one.

That pneumonia was nicknamed "the old man's friend" was always a very dark joke.

What kind of cost could we expect.