Following on from YG's bumped up post re finances following death.....

[Twohootsunderthemistletoe]

I need some help please....

In the article someone cited (from Telegraph I think), the lady in question, whose DH died and not set up a recent will, had her bank accounts frozen because they were joint accounts (this was until all affairs were sorted out). All our accounts are joint, would that therefore mean I'd not be able to access any money until all was sorted?

We have 3 life assurance policies (all with different cos, all taken out at different times etc). DH gave up smoking for 3-4 years and then started again (I know! sigh!). On the first two policies he is cited as a non-smoker (as he was at the time), on the last policy he is cited as a smoker (as he was). Clearly the last policy premiums are much higher as a result. Does anyone know if the 2 first policies may be void as he is now smoking again? I'm sure a FA told us ages ago that the policy goes on what you are/do at the time of signing and therefore it doesn't matter. But if he were to say die of a smoking illness (lung cancer eg) then would they refuse to pay out?

Sorry to go on - just a bit worried now

Message withdrawn

twohoots it was my friend who wrote that article

They live in South Africa so it may be different to here but I think there were problems with the joint bank accounts etc being frozen

You should defo tell the life assurance companies that he is now a smoker

DH (private client/tax solicitor) says there is no problem if bank accounts are joint. Problems arise if they are in individual names.

Would be worth seeing a solicitor to make sure everything is in order (well that's what dh woould say )

Thanks Yes I know we probably need to tell the insurance companies but I know the premiums will increase considerably and I don't think we can then afford them as a result

I wish he would give up smoking but clearly he is not going to and I'm pretty sick of hearing myself nag him about it. Thankfully he doesn't smoke in the house or in front of DD (when we are out) but that's not the point is it. Don't get me started on the subject as I could rant for England . I think he is incredibly selfish when he has a family to consider but I know it's a contencious subject so will leave it there .

Have contacted my FA to ask his advice - probably best.

Thanks again

Twohoots you really must look at those two life policies that have your DH as a non smoker - they are really not worth the paper they are written on if your DH now smokes - He would have to give up for twelve months to be counted as a non smoker again. Even if he died from a completely unrelated event ie run over by a bus the insurance company can (and probably will) refuse to pay out.

FTM - still awaiting FA answer. But, I do seem to recall that if you are a non-smoker at the time of taking out the policy (we knew about the 1 year rule and abided by this) then thats how it stands i.e. you were a non-smoker when you took out the policy.

I, of course, could be totally incorrect but I am sure that's what the FA told us at the time. If we do need to let them know then no doubt the premiums will rocket and we'll have to cancel at least one of them

Just to revisit this - FA has told us that as DH was a honestly a non-smoker at the inception of the policy (and had been for at least 12 months) then that still stands so we do not need to change the policy.

Thanks.