We have also told our children where our will actually is, which solicitor has a copy, and which building society/bank our various money accounts are held in, so that in the unhappy event of us both going together (eg a car crash), then they know where to look.

This would also hold after the death of the second partner, if we die separately.

I think in the UK the power of attorney is also two types; financial and health. My wife has p.o.a. for her mother's finances, but declined to do one for health.

Martyn

Having been through the trauma of relatives passing away twice in the last 2 years, and knowing the pain and hurt in going through papers and searching for things that are required to get closure, I've built up what can only be described as a 'Death Book' (sorry) which is basically a ring binder file with everything in one place.
A copy of my will
My solicitors details
Any bank account statements
All vehicular documents such as registration, insurances etc
Latest copies of all utility bills
Any product guarantees
Any paperwork referring to my property
Instructions as to how best to take down my model railway without use of a chainsaw!

The above is not exhaustive. I'd suggest you talk to your nearest and dearest and ask them what help they would need in the event of a tragedy to minimise the misery of tracking everything down

I tried showing my son-in-law how to pull my layout apart, and he put it in the too hard basket!

Remember, the Will you send to the Probate Office must be the original with a "wet" signature. All others will be rejected.

A "letter of wishes" is also something worth considering. It doesn't have the legal power of a will but can help those dealing with your estate. For example it might provide suggestions on what to do with any cash you pass on - save or enjoy it.

From a modelling point of view it can be used to provide instructions on which models you are particularly attached to, and how to sell any others on.

Steven B

Just for the avoidance of doubt, there are two types of LPoA in this neck of the woods i.e. England. One for Property and Finance and one for Health and Welfare.

Tim

Quote from: Steven B on August 21, 2024, 08:21:36 AMFrom a modelling point of view it can be used to provide instructions on which models you are particularly attached to, and how to sell any others on.

If you're gone, would it matter as, attached to or not, in the vast majority of cases all such models get sold off. OK, some surviving family members might keep the odd one as being one of your favourites.
It's in my Will that my collection be sold off and proceeds go to Help For Heroes.
Obviously, choose your own charity

Quote from: Steven B on August 21, 2024, 08:21:36 AMA "letter of wishes" is also something worth considering. It doesn't have the legal power of a will but can help those dealing with your estate. For example it might provide suggestions on what to do with any cash you pass on - save or enjoy it.

Quote from: Newportnobby on August 21, 2024, 07:36:31 AMI've built up what can only be described as a 'Death Book' (sorry) which is basically a ring binder file with everything in one place.
A copy of my will
<snip>

Same here.  I have a plastic wallet which has the sheet of phone numbers and accounts for things like energy suppliers, water, bank, and any creditors I mentioned, plus a document that contains details of where to sell stuff, and what its worth, and any people who would welcome (if survived me) to things like my model railway stuff, telescopes, and my snakes, assuming the kids don't need / want them.

With regards to POA's we had both financial and health POAs for my late mother, all done before dementia took her away form us.  But it's worth doing when you are young.  It takes away the pressure on relatives to make critical decisions which may be against the persons wishes. It also makes access to bank accounts and legal matters should a council or building society be involved a lot easier.

Personally I don't find talking about death and the arrangements we make in advance of our own death gruesome or in bad taste.  Having a "death book" or such is good forward planning and shows that you are being a good parent if you are leaving your kids to handle your affairs once you've passed on, by making the task of closing all your affairs as simple and painless as possible