Nobody wants to spend too much time thinking about the unsavory issue of death, however, according to a thought-provoking article published by moneysavingexpert.com this week, planning for the end isn’t about being morbid, it’s about making crucial decisions to help avoid financial tragedies at a time of grief.
The article spells out more than 20 tips and provides information that tackles most eventualities: from ensuring your Will is up to date… to listing the passwords of relevant online accounts… from minimizing your Inheritance Tax exposure… noting down how you’d like to be cared for… plus making sure your pets are provided for. In short, it’s a very thorough guide to all the scenarios that many of us are reluctant to deal with… but know we should really!
Understanding whether your debts would die with you, how best to release equity in your home, finding the right help and support when dealing with illness and considering charitable donations when you die, are also covered, as well as funeral ceremony wishes and setting aside a time for an ‘unpleasant issues’ chat with your family and loved ones.
You can read the full article by visiting: http://www.moneysavingexpert.com/family/death-plan
With more than 23 years financial planning experience, we are all too familiar with dealing with the impact of death and helping clients plan their finances in advance – if you would like advice on Inheritance Tax planning, or want to discuss a more general right investment strategy, please call us on 020 8614 4780 to arrange an appointment at our offices in central Teddington.