Berevment questions

[hallowitch]

My husband passed away a few week ago not done anything financial except cancel a few direct debits

 

 

His yearly pension forecast came today so I phoned them they asked who I banked with they then offered to inform the Halifax on my behalf as they were part of the same company (I said no)

 

 

The Halifax account is a joint account I am the Main Account holder

 

Will they freeze /close the account when i inform them this is my main account ?

 

My husband has 2 halifax credit cards both up to date with payment dont want to stop payment incase they take the money i have in the bank (offset) can they do this ?

 

Can they offset the credit card debt against his pension ?

 

 

Thanks for reading any gidance would be helpfull

[honeybee13]

Hi hallowitch.

 

 

I'm so sorry to hear about your husband.

 

 

I've flagged your thread for the site team, I expect they and others will be along to advise. Don't rush to tell the Halifax, when my mother died I was advised to leave the bank account open and notify them when it suited me.

 

 

Best, HB

[dx100uk]

if he is named on an account then yes they can offset.

 

now if the fact of his death makes any legal change here i'm not sure

 

you say the cards are in his name only and that you want to keep paying.

not sure you can..surely legally they must close the cards accounts down and will be after the money from his assets/estate

 

have you got a sols involved?

might it not be prudent to get a parachute account opened and move all possible income and income payment to one they cant get their muggy hands on?

[AndyOrch]

My husband passed away a few week ago not done anything financial except cancel a few direct debits

 

Please accept our deepest condolences hallowitch.

 

 

The following is an assumption that you both credited the Halifax current account and that the payments for credit card came from the same account.

 

His yearly pension forecast came today so I phoned them they asked who I banked with they then offered to inform the Halifax on my behalf as they were part of the same company (I said no)

 

Set up a new current account away from Halifax....no connections

 

The Halifax account is a joint account I am the Main Account holder

 

Will they freeze /close the account when i inform them this is my main account ? Dont inform them yet ..you are the main account holder

 

My husband has 2 halifax credit cards both up to date with payment dont want to stop payment incase they take the money i have in the bank (offset) can they do this ?

 

Possibly as he was an additional holder..although not the main...once you have a new current account in place with all your DD/SOs set up and payments running in...inform them of his death and enclose a copy of the death cert..dont make any further payments.

 

Can they offset the credit card debt against his pension ? Not if you tell them to pay the pension to your new account.

 

 

Thanks for reading any guidance would be helpful

 

Andy

[hallowitch]

Thanks for that will go open new account tomorrow I didn't know they could offset from a pension that was my main worry

 

how do I find out what banks are not connected to the Halifax or Santander please

thanks

[dx100uk]

nationwide, co-op or post office are good and you can do the application on line.

[StJane]

Sorry for your loss. Your joint account will be changed to sole ownership.

 

The credit card will have to be paid from your husband's estate. Whether his pension forms part of his estate depends on the arrangement.

 

I'd recommend that you seek independent advice on this one. If you don't get this right you in the future you might have an inheritance tax liability, have a creditor try and make a claim on the estate

[AndyOrch]

Sorry for your loss. Your joint account will be changed to sole ownership.

 

The credit card will have to be paid from your husband's estate. Whether his pension forms part of his estate depends on the arrangement.

 

I'd recommend that you seek independent advice on this one. If you don't get this right you in the future you might have an inheritance tax liability, have a creditor try and make a claim on the estate

 

Assuming there is an estate ?...If not they will have to write them off...hence the need to distance from Halifax...hence the need to get the pension paid to a new Bank.

[hallowitch]

no estate No savings he went self employed in april and we kitted out a van and other expense's no life insurance no idea how it happened but his policy is accidental death only might manage to pay this months and next months mortgage but that's it

 

 

so its all a bit of a mess

[StJane]

There is an estate (it just a term that refers to all the money and assets owned by the person). But if it's insolvent then there's no funds to pay the debts so creditors don't have a choice.

 

It's a wasted effort opening a separate account as you can't just choose what forms part of the estate. Debts also have to be repaid in priority order - secured creditors first, funeral expenses next and unsecured debts like credit cards are toward the bottom. Most pensions allow inheritance so can be left to a beneficiary without becoming part of the estate. The joint account will move to sole ownership.

[hallowitch]

nationwide, co-op or post office are good and you can do the application on line.

 

Thanks all up and running