Lifetime adviser Brian on helping widow deal with late husband’s finances

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Lifetime adviser Brian on helping widow deal with late husband’s finances

Lifetime news

Posted on: 07/01/2021

A financial adviser can be so much more than just a professional person giving advice.

They can be also be someone to turn to in a time of need.

Lifetime financial planner Brian Howard (pictured) was just such a person for one particular client.

Brian explains: “I looked after the husband and wife, but unfortunately the husband died at the end of November. He had terminal cancer, but this was diagnosed a little while ago, so he had time to get his affairs in order.

“I promised that I would help his wife, both prior and following his death.

“The first thing we did was to surrender the ISAs as they didn’t have much in savings. This gave her some peace of mind as she will not benefit from her husband’s State Pension, as unfortunately he didn’t tick the box on the form!

“Following his death, I have been helping my lady client with regard to the life policies that her husband had. I have notified the providers of his date of death and found out what their requirements are to enable them to pay out the proceeds.

“From my own recent personal experience, I mentioned the “tell us once” service, which my client has started to use. This will hopefully allow her to receive a Widow’s Pension from her late husband’s Teacher’s Pension. I also told her about the service that the Banks and Building Societies are offering, where you can advise the appropriate financial institution of a client’s death online, and they will send out the appropriate paperwork to enable any joint accounts to be transferred into her name. This will save a trip into her hometown and keep her safe.

“She had an appointment booked with the Registrar to organise the preparation of the death certificate for her husband. I confirmed that both of the life policy providers would accept email copies of the Will which will make it easier and quicker to get the information to these companies.

“Finally, I pointed that Grant of Probate may be required, and how it works.

“So, not a happy story in truth, but I hope that I have made things a little easier for my client from now until her husband’s affairs are sorted.”


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