Probate Scotland
Discussion
Out of the blue I’ve just received a terminal cancer diagnosis with a 3 month outlook.
I’m getting my head around it okay but am struggling with family finances.
My wife and I are 70ish and grew up when mostly these things were left to the man so we have bank accounts and investments in my name only,
I’m trying to establish what type of single company to engage with to start the process of Power of Attorney now and then guide my wife through Probate (in Scotland), accessing bank accounts, liaising with pension companies, etc.
There is a will in place so should it be a solicitor or probate specialist or someone else ?
Any help would be gratefully received.
Doug.
I’m getting my head around it okay but am struggling with family finances.
My wife and I are 70ish and grew up when mostly these things were left to the man so we have bank accounts and investments in my name only,
I’m trying to establish what type of single company to engage with to start the process of Power of Attorney now and then guide my wife through Probate (in Scotland), accessing bank accounts, liaising with pension companies, etc.
There is a will in place so should it be a solicitor or probate specialist or someone else ?
Any help would be gratefully received.
Doug.
Firstly, jeez. So sorry to hear that. My heart goes out to you both. Hope you get to make the most of that time and not just spend it planning (I speak to experience with a family member).
I'm no specialist, but a (different) family member was Scottish and they did have something similar to a one-stop-shop, I'll check, but I'm pretty sure it was a family lawyer. First thing is, an I'm going totally form memory here, there is no 'Probate' in Scotland, it's a Grant of Confirmation. But the laws seem to be a little more straight forward.
LPA is definitely worth jumping on if not already in place, it can take several weeks to be registered. Make sure you do it for both Finance & Property and Health and Welfare. We have learned the hard way that it is the latter that is more important.
You will also have ample time to either get accounts etc either swapped to your wife's name, or have her added as joint account holder. That save a HUGE amount of hassle.
I'd suggest speaking to a local Family Lawyer to gain initial advice on everything.
Good luck!
I'm no specialist, but a (different) family member was Scottish and they did have something similar to a one-stop-shop, I'll check, but I'm pretty sure it was a family lawyer. First thing is, an I'm going totally form memory here, there is no 'Probate' in Scotland, it's a Grant of Confirmation. But the laws seem to be a little more straight forward.
LPA is definitely worth jumping on if not already in place, it can take several weeks to be registered. Make sure you do it for both Finance & Property and Health and Welfare. We have learned the hard way that it is the latter that is more important.
You will also have ample time to either get accounts etc either swapped to your wife's name, or have her added as joint account holder. That save a HUGE amount of hassle.
I'd suggest speaking to a local Family Lawyer to gain initial advice on everything.
Good luck!
Runnyg said:
Out of the blue I ve just received a terminal cancer diagnosis with a 3 month outlook.
I m getting my head around it okay but am struggling with family finances.
My wife and I are 70ish and grew up when mostly these things were left to the man so we have bank accounts and investments in my name only,
I m trying to establish what type of single company to engage with to start the process of Power of Attorney now and then guide my wife through Probate (in Scotland), accessing bank accounts, liaising with pension companies, etc.
There is a will in place so should it be a solicitor or probate specialist or someone else ?
Any help would be gratefully received.
Doug.
I’m so sorry to read that and best wishes from a total stranger to both of you. I m getting my head around it okay but am struggling with family finances.
My wife and I are 70ish and grew up when mostly these things were left to the man so we have bank accounts and investments in my name only,
I m trying to establish what type of single company to engage with to start the process of Power of Attorney now and then guide my wife through Probate (in Scotland), accessing bank accounts, liaising with pension companies, etc.
There is a will in place so should it be a solicitor or probate specialist or someone else ?
Any help would be gratefully received.
Doug.
Fully appreciating that the rules in Scotland differ to England would just offer some knee jerk thoughts based on what I have done as both Executor and LPA holder for a number of people but all in England.
Given the LPA dies with you though I would be appointing a solicitor to deal with that now as it can take some time to get registered although I believe there is a way of jumping the queue due to circumstances.
It may even be worth a quick call to the OPG Scotland.
From the made will I assume you have named Executors but is that just your wife ?
Probate / confirmation is in some respects “ easier “ to work through but the solicitor who sets up your LPA would be a good start.
Doug
Sorry to hear about the unfortunate news.
Getting your affairs in order for your partner is important and one that you should be focusing on.
I had the assistance from a financial advisor to help tidy some stuff. Maybe a good person to talk to as they will know what to do / whom to inform / what to have taken stock of.
Wishing you all the best.
Sorry to hear about the unfortunate news.
Getting your affairs in order for your partner is important and one that you should be focusing on.
I had the assistance from a financial advisor to help tidy some stuff. Maybe a good person to talk to as they will know what to do / whom to inform / what to have taken stock of.
Wishing you all the best.
Sincerely sorry for your devastating news
I can't help specifically, other than suggest that this thread might be best if a mod can move it to the Finance section where it might draw more replies with help?
In England, individual banks have probate thresholds whereby if the total amount is less that the threshold your wife could access the money straight away without needing probate. Would give her access to some money sooner rather than later, in a simple fashion. Santander I think have a £50k threshold, Virgin I think was £30k when we had to do this last year. If this is the same in Scotland you could maybe move some money in/out of accounts to get the amounts under the banks thresholds
I can't help specifically, other than suggest that this thread might be best if a mod can move it to the Finance section where it might draw more replies with help?
In England, individual banks have probate thresholds whereby if the total amount is less that the threshold your wife could access the money straight away without needing probate. Would give her access to some money sooner rather than later, in a simple fashion. Santander I think have a £50k threshold, Virgin I think was £30k when we had to do this last year. If this is the same in Scotland you could maybe move some money in/out of accounts to get the amounts under the banks thresholds
Edited by The Gauge on Saturday 19th September 21:31
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