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Life Insurance Claim advice
Comments
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Then it's pretty much a free-for-all and would depend on if any of you might sue each other in the future if someone decides it didn't follow the intestacy rules. That's the thing you want to cover yourself for - being taken to court (even small claims) for taking more than your share.
Keeping cash to cover an equal amount of cash that you didn't get transferred from the bank account is probably defensible and there can be an easy record to make sure it was the right amount.
Keeping cash to cover a share of something that might or might not be sold is more difficult to account for, unless you have an accurate valuation of the items.0 -
To conclude, you think it is acceptable to deduct my 3rd of what I was owed from the bank account, but to forget about the items that may or may not be sold as I don’t know their value. Makes sense
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Not forget about as such, but if you choose to deduct something for them (whether they are sold or kept, because you don't have them either way) be careful in deciding how much you deduct and try to find some way of backing up the actual (not sentimental) value in case you get challenged in future.ChampagneKisses said:To conclude, you think it is acceptable to deduct my 3rd of what I was owed from the bank account, but to forget about the items that may or may not be sold as I don’t know their value. Makes sense
As always on this site, caveated with "I am not a lawyer and this is not legal advice" - if you are worried or think there is a strong chance of legal dispute, try and find some free legal advice. Legal protection on your home insurance or citizen's advice might be good places to find pointers.0 -
Thanks CSI, appreciate your time.0
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I distributed the life insurance money and took 2.5 from what I was owed from the bank account. I then had a barrage of abuse thrown at me via voice notes and messages. Ah, the joys of the block button!0
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It is very common for family members to defraud other family members when it comes to inheriting money. Greed does that to some people.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1
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