Wills, pensions, monies??

Hi all

I'm just going through the arduous task of looking through all of dads paperwork back to the 1950's (not joking)! Current situation as I understand, wills drawn up years ago, funerals paid for and graves booked, awaiting lpa's on finance and health to come through any day, but...how do I find out how many pensions dad has, the paperwork for this is not clear to me! Yes dad receives state n private pensions I can see that in the bank accounts but I think there may be more pensions...what will mums income be once dad goes? This has only just occurred to me!! Anyone with any advice, bring it on please!!!!

Mum n dad have joint accounts and personal accounts, are both frozen on death?

I feel really sad and tearful writing another difficult post! 😓

14 Replies

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  • Hi

    (This is Kevin sitting here with Liz reading posts - please forgive my laziness - I don't know my log on by heart).

    The thing to watch is that pensions going to him might have a clause that in the event of his death a portion of the pension continues to be paid to his wife or nominated other.

    If you can see who is paying the pension from the bank account you could telephone them with his N.I. number and ask for information.

    Sorry that's all I have on this one.

    Best

    Kevin and Liz

  • Thx Kevin

    I've just arranged for an old friend of dads to look through the pensions paperwork then when I get the LPA through I'll phone the pensions people to see what will happen with mum?! X

  • My only advise is, get your Mum to contact the bank to get details of monies coming in and then contact these companies direct, in your Mums name, if the POA not back by then. I don't think joint accounts are frozen if one of the names is still alive, unless they have been set up that way, but check. Perhaps a visit to see the bank, with your Mum might be a good idea. Again I am not sure, but I think most private pensions are set up with the next of kin already written into records. Certainly, mine was and S's has been changed to me, when we married.

    Life really sucks doesn't it????

    Sending big hug and lots of love

    Heady

  • Thx heady all noted and yes darling it sucks!!!!! X

  • It is a hard thing to deal with Satt2015 . I cant say what income your mum is likely to get as I don't live in UK.

    But I can make suggestions as to what you may need in place in order to get that information.

    In my experience, you will probably need a legal document to enquire about his finances. Your mum or you may have a power of attorney already to do this. I had only 'health and welfare' and this was not enough. My man was barely capable of holding a pen, but was able to make his mark and it was witnessed and this was accepted and poa granted. This gave me the authority to make decisions and access his accounts which were owned jointly. So a POA is likely to be first step.

    Secondly, I found out after my man had passed away, that any assets owned by him alone, if they were above a certain threshhold, would be frozen until probate is granted. In my case, that was not an issue as all he owned was jointly owned by us both. As a result, I was able to continue to use our joint bank account after his death without having my monies frozen too.

    Your dad's pensions and other income sources may well be in his name only and that probably can't be changed, but would be an advantage if your mum has a joint account with him, or her own account, so that she has some funds while your dad's assets are frozen.

    When my father died in UK, it took over a year before probate, etc was cleared, and that is a long time to be without any income!

    I can't see in your posts if your parents are pensioners. Simple answer for your mum would be to open her own account and get her pension put in it, at least for time being.

    It is a very tough subject to deal with, for all of you, as well as having to deal with day to day highs and lows of PSP or whatever, along with fighting to do what you feel is best for your dad, your mum and may not be what they want to hear, discuss or even think about.

    I am sure there will be others who csn answer your frantic questions! I understand your frenzy, as I have been there too!

    Hope you get some clear answers and that my post has pointed you in the right direction.

    Hugs to you all! Jen

  • Thx Jen, big help!! X

  • Yes it is a bad time but a little clarity may just help. When you register your dad's death most councils now have some system of informing others without you having to do it. So they inform: Department of Work and Pensions - your mum's pension will go up slightly.

    The Council - Council Tax will go down (not a massive amount)

    Take Passport and Driving Licence if your dad has them and they will cancel them for you.

    I think there are other things too - will let you know when I remember.

    It's very good and it works well. However any private pensions you do yourself. I found banks very helpful - not sure about joint accounts. I didn't inform the bank immediately so as to ensure any direct debits would continue to be paid. They were fine about that.

    It is very time consuming but it doesn't have to be done in a day! I have done this for mum and more recently for myself after my husband died.

    There isn't much you can do except get some papers together in readiness for the inevitable. But spend the time you have with your dad. Paperwork can wait.

    Janlaine

  • Thx u janlaine most helpful x

  • I cannot see why her accounts (sole)should be closed mine were not also the state pension was soon diverted to me, the registrar of deaths did the one call thing to tell everyone government.If my experience is average DO NOT FEAR or let your mum worry.Px

  • Thx u loppylugs x

  • Hi Satt2015

    I have some idea of the process having done my mother and father's probate. No problem with access to money in a joint account but ensure bank has accepted the POA finance. This will make sure they have no excuse to block (rare but has happened) the access to joint account. Get your dad to transfer funds to joint account if he has own bank accounts.

    Pensions if your mind mum has a state pension based on her own contributions only lose dad's pension, if it is a joint state pension based only on his contributions your mum will need to establish her own record remember she is entitled to NI contributions for when she was bringing up children. Contact DWP pensions service to get her a pension forecast check Government website for contact details.

    As stated earlier get your dad's list of companies providing funds to bank. Some income may be from shares bank should be able to identify sources for you. Pensions will be provided by companies or insurance companies you need their phone numbers for their probate sections so on your dad's death you can inform them. Be aware they will offer to do your probate for you, these services should be turned down as probate forms easy to fill from gov website. Shares more of an issue if you have no certificates best to get help from an independent financial adviser (IFA). Having said probate forms easy to fill for simple financial arrangements but if the house and savings more than £375k it may be worth getting help as HMRC section is complex for high amounts.

    One thing to remember that POA lapse on death while probate takes time to pass the will. Therefore, You need to sort out a budget for your mum for after your dad's death if probate is easy normally only takes 12 weeks if complex can take years. If you do the probate always ask for at least 6 certified copies of probate cheaper than trying to get copies after initial probate. Same idea with death certificate get 6 copies at registration of death as copies very much more expensive after initial registration.

    Joint account should allow access to money, and her own income building societies tend to want death certificate and copy of probate to release funds but if the manager knows your mum may allow access to funds on death certificate.

    On death before probate you/your mum needs to contact and inform the following (not comprehensive list):

    local authority Council tax reassessment (25% reduction single person allowance) also adult social services as they can help widows.

    Utilities (Water, electricity, gas) as can be given holidays in payments after bereavement.

    DWP for State Pension, (utilise "tell us once" facility on website) will inform other benefit providers Carers Allowance may need separate inform as in your or your mums name.

    Bank, building societies, mortgage provider if required

    Private Pension providers (be aware may have to repay some money if paid in advance)

    I would also try CAB or adult Social services for help to ensure you know what bases need to be contacted.

    It will be a stressful time not easy so be prepared by drawing up a "to do" list. Do not be afraid to ask for time to grieve from providers banks etc usually very sympathetic.

    Well done getting funeral plans sorted.

    Best wishes. Tim

  • Wow wow wow! Thank you Tim, most informative!!!!!! X

  • With Dad passing in June last year and Mum April this year, I've just been through the process(twice) more complicated with Mum though.

    Half of Dads private/ company pensions passed to Mum, her state pension increased, but I think that may be related to when women paid married women's contributions,

    Mum and Dads bank accounts were in joint names so no problems there, when Dad died Mum put her accounts into joint names with me, such a good desciision as I've been able to access money when I've needed it without waiting for probate. The only account that caused a problem was Dads ISA, we had to get a form signed by a solicitor to get the money released.

    Mum and Dad had not been paying council tax as Mum was Dads carer(under lying benefits) so Mum had to start paying council tax

    Mum and Dad had mirror wills, so no problem when Dad died, but when Mum died we've had to apply for probate( easy, we actually got their solicitor to renounce) couldn't see the point in paying him mega bucks to deal with it, we also done the HMRC forms ourselves although they were more complicated.

    I haven't found any of it difficult(except emotionally) but as Tim said get several copies of death certificates and probate

    Love Debbie x

  • Thank you Debbie for sharing on such a sensitive subject, I really do appreciate it!! X