Thinking about your death is not something anyone like’s to do, however it is worth considering what will happen to your property and assets after you are gone. Often, such matters are left for your loved ones to deal with, but there are things you can do before you pass on that you can make life easier for those you will leave behind.
Funerals are never fun, especially for your grief stricken family and friends who will probably be too emotional to think about negotiating funeral costs at that time. Take the responsibility away from them by planning and prepaying your funeral costs before you die. It is possible to pay for your own funeral ahead of time by visiting your local funeral home and discussing it with them. It may not take away your family’s grief, but it will make dealing with your unfortunate death a little financially easier.
It is very important to make sure that, firstly you have a Will and secondly, that it is up to date. Make sure that your loved ones know where to find a copy of your Will and that your executor knows exactly where to find the executed copy. It is important that they also are aware of which lawyer prepared it for you. If you are having trouble with these issues then Saga.co.uk’s online Wills and estate planning page will surely be of great help so that you can put your own mind, as well as your family’s, at rest.
Any insurance policies you own needs to be made known to your family members so that they know the name of your insurance adviser. To ensure that all policies are paid out if you are to pass away, make sure that at least one of the insurance adviser knows about each policy you may own and that a record of this information is kept for you. This will make the process run smoother and make life easier for your loved ones after your death.
Make sure that you update your list of assets often because your executor will need to gather information on your assets at the time of your death. It is important that your family is aware of your financial advisers as they may need their help in dealing with your assets after you have passed on.