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How to organize a loved one’s finances after their death – what you need to know

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UK Commission on Bereavement estimated that 61% of adults have difficulty dealing with such time-consuming and urgent administrative responsibilities.

While research has begun to shed light on some of the financial hardships that bereaved people can face after the death of a loved one, spouse or one Family memberthe emotional toll of navigating financial management after bereavement remains largely invisible.

But the good news is that there are a number of resources that can help grieving people navigate these processes, including the UK government itself. step by step guide. We drive to look for about death admin in collaboration with the National Mourning Servicean organization that provides free practical and emotional support to anyone who has lost a loved one. The study showed how government services provide a gateway to solving a range of financial problems.

Financial institutions require proof of death by way of a death certificate. This is provided when you record a death with the local registrar of births, marriages and deaths. Where there is an inquest, a provisional death certificate will be issued.

Often multiple copies of the death certificate are required. And at £12.50 for each copy (£12 in Scotland), the financial burden on grieving people can quickly mount.

In terms of tax, pensions and benefits, the registrar provides a unique reference number that bereaved people can use to inform the government through a service called Tell us once.

This is an initiative that notifies national and local government bodies, including HM Revenue and Customs (to deal with personal taxes and cancel certain benefits and tax credits) and the Department for Work and Pensions (to cancel benefits and entitlements such as universal credit or the state pension). government website also provides help on how to assess a person’s assets and calculate inheritance tax.

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Avoiding family disagreements

But other financial aspects of death administration can be more challenging to manage.

Probate, for example, is the legal right to deal with someone’s property, money, and possessions (their “estate”) when they die. You can to check on the UK government website if you need inventory.

It remains one of the most challenging aspects of death management. Our to look for shows that people often seek legal advice to manage their estate because they are afraid of making a mistake or because they want to avoid future disputes with family members.

The process of closing bank accounts and managing assets can be straightforward when the deceased person made clear arrangements and had few bank accounts. But financial concerns often arise in situations where there are multiple or complicated banking systems. As one of our survey participants put it: “It’s been a real mess… my dad had a few properties, and it’s been really hard to liquidate them.”

Worse still, bereaved people may face threatening letters from companies such as utility companies regarding bills and account closures. We found that organizations often lack compassion in this context.

We came across cases of companies continuing to write directly to the deceased person, causing even more distress to their loved ones. One of our participants told us that her stepmother was “still receiving the bill in my father’s name, which was making her very distressed.”

the National Covid Memorial Wall in London

It is also worth noting that certain types of death present particular administrative and financial challenges. For example, in 2022, 17% of deaths in England and Wales were subject to a coroner’s inquest.

These deaths can be more difficult to manage in the Tell Us Once initiative due to the time lag and extra paperwork involved. Additionally, many people die without a will, which often makes navigating financial matters much more difficult.

The location of death can also have financial implications. For example, our to look for shows how financing a nursing home stay is often tied to inheritance or the sale of a person’s home, which puts extra pressure on those trying to free up the funds.

Many organizations could make their administrative processes clearer and train their staff to be more compassionate towards people who have recently lost loved ones.

There are, however, glimmers of hope that things are improving. My own father died last year, and while my experiences helping my mother deal with the financial aspects of death management have been mixed, we have experienced many acts of kindness and compassion along the way.

There is also excellent practical guidance from organizations such as National Mourning Servicewhich together with the emotional support of charities such as Cruse Grief Support are vital in helping people navigate complex administrative systems.

The COVID pandemic and the Queen’s death in 2022 have likely meant that as a society we are talking more about death and grief, both publicly and privately. Death and grief happen to us all, and it is crucial that we talk more openly, not just about our emotional concerns, but also about the practical and financial implications.

This article was republished from The conversation under a Creative Commons license. Read the original article.

Professor Kate Reed received funding from UKRI Research England.

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