Re: Warning

albatross — Tue, 13 Jul 2010 11:11:10 GMT

Mum had a life policy in her own name, and the money does go to the estate to be divided up etc. It also is a "chargeable" policy which means the government can take tax out of it if the total etate become taxable! They've sent me a gross and net amount for probate costings.

I second Caro's comment about wills....
Mum died intestate in April, and I'm still ploughing through her estate before going to probate. The amount of companies which won't talk to me because there's no will/probate but I need to talk to them to get the figures (or problems unravelled before going to probate) is driving me nuts.
I've ended up in a "chicken and egg" situation with three companies - won't talk to me because I haven't got the probate/wil but I need to get them to tell me what she owes them/they owe her, before I can go to probate with the total.....so I can then talk officially to them to release funds etc.
I have managed to beat them down and eventually talk to me to get figures but it's been hard.
I always thought that if there's only one beneficiary it should be easy as long as the estate is under the capital gains limit of (I think) around £325,000.....

So please everyone, put it on your to-do list, becauseyou never know what is around the corner, and it will save so much hassle even if there's no divided family to share out gifts/money....

Sending you a big hug Caro, it's a tough time sorting out finances and possessions

Re: Warning

Shelly vn — Tue, 13 Jul 2010 10:07:16 GMT

Thanks for this advice Caro, i've just recently been thinking about life insurance for me and my hubby to be and i had just assumed that it would automatically go to the other person. I'll definatly be remembering that when i take out a policy

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