Question about death and debt

[timwilky]

Originally Posted by husky03

costs a feckin fortune to die

not quite, costs a fortune to get rid of the dead. We did my bro in law on the cheap and it was still over 2 grand for the funeral. He left 5 grand in a drawer to sort things out like funeral, wake, probate, estate agents, solicitors etc and some bitch nicked it whilst he was in the hospice.

Originally Posted by timwilky

not quite, costs a fortune to get rid of the dead. We did my bro in law on the cheap and it was still over 2 grand for the funeral. He left 5 grand in a drawer to sort things out like funeral, wake, probate, estate agents, solicitors etc and some bitch nicked it whilst he was in the hospice.

Thats sick!

Isnt this what the whole who-ahh about getting insurance on credit cards debate was about on the news a while back. People were paying for their insurance during life then when they died the money was still taken out of thier estate. Bloody awful when you think about it its takin advantage of the people who'll just be wanting to get things sorted out and finsihed.

Originally Posted by husky03

costs a feckin fortune to die

Yup it does. My grandad died not too long ago and the cost was absolutely astonishing..i think over 2k? Even though my nan opted for the cheapest things in order to save money it really added up.

[Luckypants]

Originally Posted by timwilky

not quite, costs a fortune to get rid of the dead.

Yet another reason for life insurance.... everyone should have it. It is relatively cheap to get say 10K of cover to pay for funerals, incidental expenses and any debts. Takes some of the stress away from those left behind.

Originally Posted by Luckypants

Yet another reason for life insurance.... everyone should have it. It is relatively cheap to get say 10K of cover to pay for funerals, incidental expenses and any debts. Takes some of the stress away from those left behind.

Yes, but then that sum is part of your estate isn't it? so if you owe money they will have first call then whatevers left, if any, could be put towards funeral expenses.

I have 20k life insurance, but my debts far exceed that and I have no assets whatsoever. Thinking I'll end up being a guy on a bonfire somewhere.

[Luckypants]

Originally Posted by petevtwin650

Yes, but then that sum is part of your estate isn't it? so if you owe money they will have first call then whatevers left, if any, could be put towards funeral expenses.

That should not be a problem, just take sufficient cover to pay off debt.

Originally Posted by petevtwin650

I have 20k life insurance, but my debts far exceed that and I have no assets whatsoever. Thinking I'll end up being a guy on a bonfire somewhere.

Well I have significantly more cover than that to cover my liabilities. I believe the point of the life cover should be to have sufficient to pay off any debts, pay the necessary AND leave a some for any dependants. Luckily I have no dependants in the financial sense.

I've dealt with a few insolvent estates. Debt is always a personal matter unless it's secured. So if there isn't enough to go round then it dies with you and the creditor will write it off.

Originally Posted by Luckypants

That should not be a problem, just take sufficient cover to pay off debt.

Well I have significantly more cover than that to cover my liabilities. I believe the point of the life cover should be to have sufficient to pay off any debts, pay the necessary AND leave a some for any dependants. Luckily I have no dependants in the financial sense.

That is easy to say.

I'm not bleating or feeling sorry for myself, cos I've had a good life, but my debts are over 100k. Try getting affordable cover at my time of life.

TBH, all I would want, and all we all really need, is to be cremated and that's it. No wake or headstone or wreathes.

[punyXpress]

Is that why you don't go on early November rideouts, Pete - I thought it was the cold?

[punyXpress]

Thinking I'll end up being a guy on a bonfire somewhere.[/quote]
Don't you have to blow up Parliament for that?

Now there's a thought!