US Savings Bonds

Archive for July, 2009

Senate Session 2010-04-21 (09:51:58-10:45:52)

Question: Grant of Probate?

This must be a “squeeze a bit more cash out of them ploy”. A close relative recently passed away and she had paid a solicitor to make a will and an enduring power of attorney naming her husband of 50 odd years as the executor and beneficiary (and he did the same). Now that she has died her husband has been told that he has to get a Grant of Probate the cost will be over £100 and it will take several weeks to process because she had premium bonds and National Savings over £15,000. Why when he can prove who he is , that they lived at the same address all their lives and held joint accounts and is specifically named in the will does he have to go through this palaver?

Answer: I deal with estates all the time as part of my job, for an estate over £5000, where there is a valid will, you have to apply for a grant of probate. The cost of doing this is £90 plus £1 for each grant you request, it also requires an oath to be taken by the person applying or their represetative (solicitor)

I would suggest that you don’t bother with the solicitor as he is likely to charge in excess of £90 an hour for his time in getting a clerk to deal with it.

It is relatively easy to apply yourself so I have attached the link for you. Please also note that the probate service offer a phone helpline to assist with completing the forms.

http://www.hmcourts-service.gov.uk/infoabout/civil/probate/index.htm

Getting Organized

Question: Personal investment strategy: bonds/securities and career?

How does this look as a long-term investment strategy:

Answer: At your age, inflation will eat up that 50% of savings. You need an investment that will at least stay ahead of it, like stocks or Mutual Funds. For now, I’d put the same amount in fixed income that would correlate with your age. 22% fixed income, 78% stocks and Mutual Funds.

Prechter: Bond Bubble Bursting