Thanks to Compassion In Dying for their thoughts on planning for death this week. “When planning for the end, consider your death, not just your funeral,” they advise…
When we think of planning for the end of our lives, what will often come to mind are funeral arrangements and ensuring your affairs are settled after you’ve gone. But what we often neglect to consider is the dying process itself – what healthcare and treatment we might receive and what our death will be like as a result.
My younger self (pictured) never had to think about a useful way to spend a bank holiday. Everyday that wasn’t a school day felt like a bank holiday. There was acres of time to stare in the mirror and wonder if the monobrow would ever think out and the frizzy hair would ever calm down. These days, I never seem to have a spare minute, so when a whole spare day comes along, I want to get as much out of it as possible. So, ironically, I’ve spent the morning sorting out my bank accounts.
Thanks to Chantal from Castleacre Insurance for sharing insights into the role of an Executor this week. This could also be entitled: Executor Forced by the Court to Reimburse an Estate to the tune of £300,000. A little more arresting. Here’s what Chantal tells us: Many people who take on the role of executor for a […]
If you want to engage others in thinking and talking about end of life planning, try a bit of Fling-O-Bingo to get the wheels oiled. We use this as a way of talking about key documents next of kin will need. We first used it at the Ideal Death Show in 2013. Recently, we shared it with […]
Whether you own a big car, a fleet of cars or a bus pass, wealth management might still be worth thinking about.
This week, we talk to Matthew de Courcy Ireland, independent financial adviser and pre-retirement specialist, to find out more.
Bereavement and Tax – it’s changing again. There can be a mountain of paperwork to deal with after a bereavement, and everyday matters like dealing with banks, council departments and utility companies can become overwhelming. One area that needs attention after most bereavements is tax.
Final Fling’s Safe Deposit Box is part of our Life Planning Tools – a highly secure space to store all your precious legal and financial documents: the 20 Essential documents you and your next of kin will need.
Where should we start if we’re thinking about making a Will? A series of “what if” questions is a good place – along with the assistance of an expert who knows the territory and can prompt you through your choices and the issues. See some typical scenarios to begin.
A Health & Welfare Power of Attorney gives you the legal right to nominate someone to represent your choices around care and medical treatment if you’re no longer able to make decisions.
Equity release is a way of releasing some of the money that’s tied up in your home, providing you with a cash lump sum.
Income protection cover pays you a monthly income if you are unable to work because of accident or illness.
Inheritance Tax is charged on your estate at date of death. Ouch. You are liable for all your property in the UK and elsewhere. If you are not living in the UK then the tax only applies to property you own in the UK. Make sure you know what to expect and what your options are.
Life cover insurance can ensure that, if you died, your family would be financially secure, your mortgage paid off and your funeral covered.
It’s the ideal. To pay off your debts and still have something in the coffers for a good ‘wake’ and a wee share out.
Retirement plans are among the more common ways people think about preparing for end of life. There are a number of ways you can provide for or enhance your retirement. Good health, good friends, good financial planning – the holy trinity of later life.
Will Trusts allow you to set up a Trust and appoint Trustees in your Will in order to manage your affairs after death. Will Trusts have no legal standing while the holder is alive; they come into force on death.
A Property & Financial Power of Attorney allows you to nominate someone to act on your behalf when you no longer can.
Thinking ahead about paying for your funeral or supporting another to plan theirs isn’t morbid. It’s practical. And paying up front is even better. It saves others worrying about money or squabbling over arrangements.
What happens to a home when someone dies if it’s jointly owned? This is pretty critical stuff to understand.
An Executor acts on your behalf after you’ve died – ensuring the intention of your Will is fulfilled. When you write a Will you appoint at least one Executor – usually two – as trusted representatives who will see that your final wishes are carried out. This may be your next of kin, close family […]
Almost immediately on death the paperwork starts. Probate – called confirmation in Scotland – oversees and allows the legal distribution of the estate.