Phillips and cohen

[carlos09]

Good evening everyone

My father passed away and I was next of kin and had to sort out his estate.

He had £3600 debt being chased by phillips and cohen
After everything was sorted they was only 400 left to give them and that was it sorted. We have just found out he had another small life policy for £1000.

What do we have to do with it?

Thanks for you help

[carlos09]

Anyone around to help on this?

[ostell]

So have P & C accepted the original sum offered? If so then don't raise the issue.

Who was the named beneficiary of the insurance policy?

[carlos09]

My dad was

[des8]

Be careful.
If you as executor distribute estate assets prior to discharging a debt, you could be held personally liable for that debt..... if the debtor discovers it!

If, after creditors have accepted offers additional assets are found , they should be offered to creditors . Only after all creditors have confirmed in writing that their files are closed and remaining debt written off, should any money be given to beneficiaries.

[carlos09]

He didn't have a will. I'm just next of kin. He didn't own a house or car and didn't have any stocks or shares or anything of value. So all I have done is try to sort out his affairs

[des8]

As the person who sorted your father's estate, with or without probate, you should do it according to the law.
If you don't, and if it is discovered, you may be held liable.

How anyone finds out is a mystery!

[carlos09]

Thanks for that. I think I will call them as surely they would be able to check for life insurance payouts

[des8]

surely they would be able to check for life insurance payouts

How and where?
There are two databases, one references house & contents claims, the other motor claims.
I am unaware of any involving life assurance

[ostell]

Did they accept the payment as full and final?

[carlos09]

I haven't had any paperwork of them recently so I'm not sure. Been a pretty bad time what with home schooling trying to work and having covid