Writing a will - Retirement. We have updated our cookie policy to reflect changes in the law on cookies and tracking technologies used on websites.
To show you this page, we placed cookies on your computer. If you continue on this website, we will use further cookies to maximise your experience and help us to understand how we can improve it. Cookies are text files containing small amounts of data which are downloaded to your computer, or other device, when you visit a website. Cookies are useful because they allow us to recognise your computer, and improve your experience on our websites. Some cookies are also necessary for the technical operation of our websites. We are currently working hard to bring you the ability to choose and control the cookies placed on your computer when you use our websites.
Please read our cookie policy - it provides important information about the cookies we use, how we use them and how they can be deleted. Barclays Bank and the Bereavement Con. Following my Dad’s death, Barclays Bank’s immediate response was to present my devastated mum with a form which, if she’d signed it, would have in effect authorised them to unload their corporation debts onto her personally when in fact she owes them nothing.
My father died recently, and under unexpected circumstances. Naturally, my mum and I were stunned, dazed, shocked, lost. As people do, we chose to distract our minds while our hearts mourned the horrible new truth. To this end we made an early start on the slew of administrative tasks that follow a death. Early among these was a visit to Barclays Bank to tell them about my dad’s passing. Banks are businesses. The clerk at the branch of Barclays Bank contacted the sympathetic sounding “Bereavement Services” department who operate out of a business park in the West Midlands. This is the form my mum was presented with: [you can click it to view full-size] Hmmmm. An Example: Normal UK Law Let’s look at an example. Death happens - plan for it: 20+ crucial checks to minimise financial trauma. Death can cause financial tragedies as well as grief.
Yet planning for the end isn't about being morbid. It's about making crucial financial preparations to lessen the impact when it happens. Our checklist includes tips on wills, inheritance tax, funerals and setting up a power of attorney, plus how to do the 'unpleasant issues' chat. Have the 'unpleasant issues' chat Some things aren't best avoided. The mental incapacity or death of a loved one's hard enough to deal with, but often the financial complications can add a huge unnecessary blow to the pain of it all.
Whether it's you who wants to avoid the subject, or your loved ones who'd rather not face it, it's certainly not something you should put off. Difficult as it is, it's better to deal with it head on than face the consequences of having not considered it. One solution is to simply have a day when you discuss with your partner and/or dependants what you want, and how things should be organised. A financial factsheet. Power of Attorney: Plan ahead in case you lose mental capacity. One in three over-65s develop dementia.
Yet don't assume relatives can just walk into a bank and access your money, even to pay for your care. Unless you've a Power of Attorney already, loved ones need to apply through court, which can be long and costly. This guide shows you how to sort it in advance. What is Lasting Power of Attorney? Thinking and talking about what would happen if our faculties deserted us is uncomfortable. If someone has difficulties that mean they can't make decisions anymore, they will need help managing their finances. Don't think you suddenly give up control. Your representative should only ever make a choice for you if you're unable to make that specific decision at the time it needs to be made. There are two types of LPA: one for finance and property and another for health and welfare. Natural Burial Grounds - Green Funerals - Natural burials.
Unclutterer: Daily tips on how to organize your home and office.