Be prepared for financial fallout after the death of a loved one

DEALING WITH LOSS CAN BE CHALLENGING IN PRACTICAL AND FINANCIAL TERMS, BUT STARTING OFF SOME CONVERSATIONS WITH YOUR NEAREST AND DEAREST MAY HELP.

- VICKY SHAW

PLANNING for what will happen after a loved one dies isn't easy to contemplate, let alone talk about.

However, dealing with finances and admin after a bereavement is a process many of us will go through at some stage.

With many families coming together over Christmas, there could be opportunities to kickstart a few conversations about life planning. Doing so could provide some reassurance, and help make things a little easier for those carrying out someone's final wishes.

Dealing with the practical and financial aspects of death is particularly challenging, as it comes at a time when those left behind are still dealing with emotional distress and shock.

"Dealing with death is always horrendous, but coping with the financial aspects after someone has passed away can make a terrible time even harder," says Sarah Coles, head of personal finance at financial services company Hargreaves Lansdown.

"There's an enormous amount to do, from sorting out energy bills to stopping pension payments, and then going through the miserable business of probate."

There are steps to make things easier, however. Sarah says when registering the death: "It's worth paying for a number of copies of the death certificate at this stage, because you will need to send them to a number of people."

WHERE TO START

If the person who has died was living in Britain, people can use 'Tell Us Once' - a service that enables a death to be reported to many government organisations in one go.

Sarah continues: "You also need to contact any organisation they had dealings with, to let them know. This will include pension scheme providers, insurance companies and banks.