July 09th, 2020

4 Things To Protect Your Family

It’s in times like these that we are often all reminded of our mortality or the mortality of our loved ones.

It’s never an easy conversation to have but, should the worst happen, there are a few things you can do to make the life of any family you leave behind that little bit easier:

  1. Ensure that you have made a Will that it is up-to-date, that clearly sets out your wishes and that your loved ones know where to find it!
  2. Make sure that your important documents regarding mortgages, pensions, investments, insurances, etc are organised and stored somewhere safe and accessible.
  3. Ensure that your loved ones know your passcodes or passwords for the phones, computers or accounts they may need to access.
  4. Arrange for a Lasting Power of Attorney to ensure someone else can handle your matters if you can’t.

Perhaps most importantly, ensure that your family can survive after you by considering:

  • Life Insurance (that provides a lump sum)

or

  • Family Income Benefit (that provides an income)

From our decades’ worth of collective experience, all of us and many of our clients will themselves tell you that the added stress of finances after the death of a loved one is painful and very much avoidable.

For further information, please click here to request a call back from one of our advisers.

Written by Daniel Morris – Financial Planning Consultant st Prosser Knowles Associates Limited

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