1. Make a Will
Your will lets you decide what happens to your money, property and possessions after your death.
If you make a will you can also make sure you do not pay more Inheritance Tax than you need to.
You can write your will yourself, but you should get advice if your will is not straightforward.
You need to get your will formally witnessed and signed to make it legally valid.
If you want to update your will, you need to make an official alteration (called a ‘codicil’) or make a new will.
If you die without a will, the law decides who gets what.
Make sure your will is legal
For your will to be legally valid, you must:
Signing can be witnessed both in person and remotely (for example by video conferencing). In both cases:
You can only sign remotely in England or Wales.
If you make any changes to your will you must follow the same signing and witnessing process.
You cannot leave your witnesses (or their married partners) anything in your will.
For more information visit Citizens Advice Website
You can get Wills form from WHSmith if you want to do it yourself and if it is straightforward.
2. Life Insurance
Sometimes life can be unpredictable, but we’re here to help you plan for the unexpected.
What is Life Insurance?
Life Insurance is a type of insurance policy that can help minimise the financial impact that your death could have on your loved ones. If you die or if you’re diagnosed with a terminal illness with a life expectancy of less than 12 months, during the length of the policy, it could pay out a cash sum. Life Insurance can’t replace the love you give but it could help during a difficult time. After all, life insurance is not for you…it’s for them.,
How does Life Insurance work?
Life Insurance could pay out a cash sum if you die or are diagnosed with a terminal illness while covered by the policy (provided your life expectancy is less than 12 months). The amount of cover you choose will stay fixed unless you change your policy.
You choose the amount of cover you need, how long you need it for and whether you want to take out life insurance under joint or single names.
Some of the best Life Insurance companies in the UK:
3. Funeral Plan
A funeral can take place any time after death. Anyone close to the person can arrange the funeral.
The person may have left instructions (in their will or somewhere else) about the type of funeral they wanted and/or whether they wanted to be buried or cremated. There is no legal obligation for relatives to follow these instructions. In some cases, relatives may want burial or cremation to take place abroad. The rules about this are very complex and the help of a specialist funeral director will be needed. Permission from a coroner is always needed before a body can be sent abroad.
If there are no relatives or friends to arrange a funeral, the local authority or health authority will arrange a simple funeral.
The public authority that arranges the funeral will then try to recover the cost from any money left by the person who died. If the money left isn’t enough, the public authority can sometimes recover the funeral cost from a spouse or civil partner (but not from anybody else). Read More…
Some of the Funeral plans companies in the UK:
To find our more funeral plans companies authorised by FCA click here..