Money Issues

Financial planning for death shouldn’t be difficult

Financial planning around death is one of the most important aspects of end of life matters. This is more than just paying for a funeral but making sure all areas of your daily life are sorted – from managing utility bills when you’ve lost mental capacity to money matters after a partner dies. 

Click on one of the headings below to jump to the right section for your current needs.

Before death

You’re going to do all your best financial planning before you actually die, and there’s no better way to make sure your death goes financially smoothly than starting early.

When someone dies

Immediately after someone dies, the first big financial burden is going to be the funeral itself, and all the admin fees that go along with it. We guide you through costs and alternative solutions.

After death

It might be financial worries after a partner dies or managing unpaid debt alone –  whatever it is, financial issues don’t always stop once you or someone close dies. Grief and money worries aren’t the best mix, so we’ve provided some solutions.

Before death

It’s important to get thinking about the financial matters around death and dying before you actually get to that stage. Once you’re dead, you can’t change the terms of your mortgage.

Finances after being diagnosed with a terminal illness

Get to know more about your rights at work after you’ve been diagnosed with a terminal illness, and whether or not you’re eligible for early pension payments.

Click here to read more about financial help when living with a terminal illness

Think about a funeral plan 

They’re not for everyone, and you need to look out for whether some on offer are part of a larger money-making scheme. Generally, they can be a reliable way of sorting out your own funeral. We look at what’s involved with buying a funeral plan.

Click here to read more about funeral plans

Understand what inheritance tax means for you

Everyone’s got an opinion on it, and it’s not relevant for everyone, but wherever you sit we’ve outlined the details of inheritance tax in simple terms so you can understand the topic better.  

Click here to read more about inheritance tax

Manage loss of mental capacity

Make sure your bank account, utility bills and any pensions are kept under control by appointing someone close to you to sort these out when it becomes difficult to make decisions.

Click here to read more about managing loss of mental capacity

Think about life insurance 

We don’t always want to think about when we’re going to die, but effective life insurance policies make you do just that. Here we look at the benefits and drawbacks of life insurance.

Click here to read more about life insurance

Consider over 50s life insurance

There’s also what’s known as over 50s life insurance, which is specifically for those who’ve covered a few of life’s milestones. We look at the benefits and drawbacks of over 50s life insurance here.

Click here to read more about over 50s life insurance

Get planning.  Sort your Farewell Wishes here

When someone dies

Immediately after someone dies, one of the first matters you’ll need to deal with is also one of the most costly: arranging a funeral. We’ve covered the basics of funeral costs, and looked at some of the alternatives to a traditional burial or cremation.

Paying for a funeral 

Costs and fees surrounding funerals aren’t always clearly stated by funeral directors, crematoriums or burial grounds. Here we break down some of the costs you face when arranging a funeral through a funeral director.

Click here to read more about funeral costs

Arranging a cremation

Cremation is a popular choice – around 75% of us in the UK opt for it. Read more about the costs involved with arranging a cremation, from the forms you’ll need to get to paying for crematorium services.

Click here to read more about arranging a cremation

Arranging a burial

Burial practices have been going for a while now, starting with the very first homo sapiens. If you’d like to join them, then here’s what you need to know about the costs involved with arranging a burial service.

Click here to read more about arranging a burial

Take a look at not-for-profit funerals  

Cooperatives and community interest enterprises are great for providing solutions – here we look at some new companies that give you cheap and alternative options. Learn about whether the future of the funeral industry lies in not-for-profit funerals here.

Click here to read more about the ideas around not-for-profit funerals

Learn more about direct cremation

A send-off that does away with a ceremony won’t be everyone’s idea of a funeral. But direct cremation is cheaper, increasingly popular and provides you with enough left over cash to put on a great after party.

Click here to read more about direct cremation

After death

Death and dying doesn’t mean the end of financial matters. Whether your life partner dies or you’re in the position of sorting out the outstanding payments of a loved one, we’ve looked at some of the financial issues after death.

Bereavement and money worries

It’s been found that money worries can make the grieving process worse. If your partner managed all household outgoings and income, getting to grips with money matters can be a huge challenge. We provide some solutions here.

Click here to read more about bereavement and money worries

Managing debt after someone dies

Not all debts die with you. On top of the grieving process, dealing with money matters you weren’t prepared to come up against only makes this period more stressful. Here we look at what happens if someone close to you dies with outstanding debt.

Click here to read more about managing debt after someone dies

Think about the inheritance boom and younger people

Get to know the consequences of what’s set to be Britain’s largest inheritance boom since the ‘40s – it’ll give you something to talk about with millennials.

Click here to read more about the inheritance boom

Next steps

Take a look at our Legal Matters hub, our Funeral Planning hub and more of our articles.

If you want to find out more about the bereavement support available to you, make sure you take a look at our Help and Support page.