Financials

Putting accounts in joint names will save a lot of problems later. Although I'm not widowed I had some major issues sorting out utilities etc when my H and I split up. Initially he moved into the spare room and continued paying the bills as I only had a low paying part time job and my children were still at school. As everything was in his name he had to keep on paying, but eventually he moved out and we got divorced and some companies wouldn't talk to me because I wasn't named on accounts even when I explained that he no longer lived here and I did! My MIL had awful difficulties with one company when she was widowed - the same one that gave me the most problems. I've had to put my name onto the BT bill but not remove my ex as, if it was in my sole name, I'd have to get a new account and change my telephone number apparently. So any changes you can make now are worth doing.

Sorry to hear this news. My advice would be to speak to the Citizen's Advice people. Make all your utilities , insurances anything you pay for your house in joint names. If your husband has a credit card get him to allow you to speak on his behalf to them ( if this is possible) . We have also decided if we were in your position not to put money in joint names but in the name of the one likely to live longest. This makes probate a lot easier and less expensive if there is a bit of money. Make sure you have money you can use in an emergency and if you can bear it speak about his wishes regarding a funeral .

Yes I agree that either AGE IK or
CAB will be able to advise you
Take all the paperwork that you can
with you and don't feel embarrassed
talking about you finances. They Are quite used to it.

My wife will receive half my private private pension and half my US State pension.

I’m not sure whether she’ll receive half my UK State pension.

But we’ve both made sure either us can manage financially when one of us dies.

I always thought my parents were poor, but when Dad died, we were pleasantly surprised at how prudent he had been. Not only did mum get half his occupational pension, but he had good life insurance cover which paid out, also some bonds.
Mum had no pension in her own right, but her state pension increased when she was widowed. She was already getting Attendance Allowance, so in the end she was able to manage well enough.
I hope this all works out for you as well as it did for my mum.

This is my first post so a little nervous. You have been given great advice - I am in Australia and benefits available here are very different. However, our Government has just released a 'Reverse Mortgage Loan Scheme' which basically allows home owners on pensions to receive extra income through additional pension based on needs and home equity. The debt is repaid from your Estate when you die. Perhaps this may suit if its available. Like all financial matters you should seek professional advice. Best wishes to you.

Age UK are brilliant. If you are living alone you can get a reduction on council tax and if your income is low you can get pension credits. Sorry that you are in this situation but I agree with others that it would help you to find out sooner rather than later to ease a bit of your worries

Grampie your state pension dies with you .I do not know if she can claim anything in her own right though .

I don't think that is always right Floradora9. I had a full state pension based on my husband's contributions when he died which I loose if I marry or cohabit.

So very sorry to hear about your DH, I do hope you are taking care of yourself during this awful time.
Finances are such a worry, but my first bit of advice would be not to react too quickly, I had a knee jerk reaction when I was left alone to deal with the money, got rid of my car, downgraded my TV packages, went onto comparison sites about the best deals for household and insurance expenses, all done in a rush. I wish I had been less frantic and calmer.
Secondly, check out your insurances. I did not know that when my husband was declared terminally ill, one of his insurances would have paid off the mortgage for us, which would have taken such a worry from his mind in his last days.
After four years I sold our house and down-sized, but the house took a lot of my profit to bring it up to a decent standard, but thinking ahead, the price will have gone up substantially because of the work I had done. In retrospect I sometimes think I should have moved into a flat, without a large garden to care for, and with more money in the bank, but I love this house and it is all mine, with no memories of the place where DH died, and that has helped me enormously.
We had private insurances, which as a self-employed person with feast and famine days, I often worried if we could afford the payments, but my husband in his wisdom insisted we keep them.
I get an increased National Insurance Pension, plus monthly payments from my DH's private ones, which I must add are taxed at source, so theoretically you should not have to worry about tax returns and the like, unless you receive any other payments. Sale of personal stuff does not get counted into this. My Pensions end in another two years, at which time they go to 50% of the amount at the moment. I am getting stuff down around the house and in the garden anticipating when this decrease happens, while at the same time saving what I can in PEP's which are tax free on interest, and in a savings account for that rainy day.
I still worry about money and have to remember that DH is no longer working to top up any amount of money I get, but I am forever grateful that he insisted on paying the private pensions, even during lean times, because without that I would definitely be struggling.
I think you have more than enough to worry about as your DH's days come to an end, so if you can, get an independent financial manager to discuss things with you for the future. Make your own Will asap after DH passes away, but please, please do not make your bank or a solicitor your Executor. I have known so many people who do this and it costs them a small fortune Gross and before tax and other bequests, often leaving them with a small percentage of their inheritance.
This sounds so formal and I do not with it to be at such a heartbreaking time, obviously your mind is racing ahead, but for me, time enough to worry about things after the dreadful time. I hope when the end does come it is peaceful and you have time to yourself to grieve.

Diamond girl your post was excellent, all I can say. Is that you must give yourself time to grieve when the time comes and be kind to yourself and accept all the help you are offered. Your post has made me really think about my future.

I requested to download the life book which I have just received.

It starts off ok saying Life book then you put your name.
The says "how to use your lifebook" but then nothing just a load of page after page of blank pages no writing other than copyright at the bottom.

Has anyone else had it emailed to them and downloaded ?

ahaa think the problem may be....it has been sent in Word do and I don't have word on my laptop, shame as it can be edited etc.

Just a reminder, should you DH have had Premium Bonds of a value over £5000, you will need a Grant of Probate, as I found out much to my annoyance.

Pippa000 I hope you don't mind my asking,, but did you actually apply for the repayment/transfer of the premium bonds in question, or just read the form and not go any further, assuming that probate was absolutely essential? I ask because we nearly did that when Dad died, but based on other things we had read, decided to complete and send the form anyway, along with the required authorized copy of the will. This despite the total of premium bonds being more than you mention, plus some other government bonds too. I forget the total right now, but it was between 10k and 14k. It was all repaid/transferred to Mum within weeks, with no problem at all.

MamaCaz, I filled the form, sent it off, but received a letter back stating as it was over £5000 Probate was required. This was only a few months ago so it may be a recent decision.

Ah. In our case, it was 8 months ago, so it is possible that things have changed, but everything I read online back then suggested that this was a very grey area anyway. It seems we were lucky!

Once again I would like to thank you all for the advice given and taken onboard.

Very good advice here, especially the bit about making sure everything is in joint names. If this is not the case and he is too ill to change things, then at least get in touch with his bank and talk to them ASAP, so when the end comes that’s one less worry.

I’m so sorry to read that your DH is so very ill.

Floradora9 unfortunately your information is incorrect. It is always better to have joint accounts. If one holder dies all you need to do is show the death certificate and the account reverts to a single account. This costs nothing. Quote below :

"In either case, once the death certificate is provided to the bank the account will become a single account in the name of the surviving party alone. Because the funds in a joint account pass to the surviving account holder, they do not form part of the estate of the deceased person.Mar 17, 2015

Just one thing, when the sad time comes when you register the death get several copies of the death certificate at that time as it costs you much less than later. You may need more than you think 5 or 6 copies to send off to all the various places.

So sorry Algeswifeval to hear that Alge is so unwell. It might be very difficult, but if it is still possible, can you discuss this with him? There might be things he could still tell you which could help. Otherwise enlist the help of your nearest and dearest and Age UK.

Your message sends a warning to us all to discuss these things while we still can.

Just been round the City Hall , registering the death of poor OH , then the bank , so I can speak with experience . Our joint account is now in my name and it was done very sympathetically , took for ever cos some things had to be verified. I can use my card as usual , just to be sent a new cheque book. If it had been all in his name I would be unable to pay for anything until probate ,oh and it didn't cost anything . I am now exhausted

So sad for you aggie you sound to be struggling.
I hope things go easier for you in the coming days.
I think it is something we will all have to deal with, I hope we will deal with as you seem to be doing.
My very best wishes and deepest sympathy for you.