Talking About Death To Your Loved Ones Isn’t Morbid

Talking about funeral wishes and who should inherit is a good way to relieve the stress on loved ones at the time of your death.

A whole range of issues need thinking about, from the service and who gives eulogies to what happens to your personal treasures and wealth.

The best way to prepare for your death is to put a funeral plan together detailing your wishes.

Start with the service and your thoughts about burial or cremation.

Try to put some money aside to pay for the funeral and review the amount to take account of inflation.

Look at opening a savings account rather than an insurance plan, which can end up costly for those who live to a ripe old age.

Too many have no will

Next comes the will and probate.

Wills made in one country are likely to have a different legal standing in another country.

It’s important to have a will in each country where an expat has property and to take advice about the document from a local professional overseas.

And regularly update the will. Figures suggest 60% of British adults do not have a will and more than half of those with a will have never updated the document.

Although 46% say they have nothing to leave and do not see the point, 15% are worried about thinking of their death and 14% have not bothered to see a lawyer yet.

Estate planning professionals are urging anyone making a will to consider allocating a lasting power of attorney (LPA).

Dementia dilemma

An LPA gives a trusted friend, relative or professional the power to manage property and money if the owner falls seriously ill or spends time overseas.

Increasing numbers suffering from dementia who are unable to manage their own affairs are behind the move.

Around 13% of families have a relative diagnosed with dementia, says UK funeral director The Co-Op.

LPAs come in two types – health and welfare or property and finances.

Expats can become an attorney in England or Wales if they live overseas and do not have to be British citizens.

Different procedures over the power of attorney in Scotland.

Below is a list of some related articles, guides and insights that you may find of interest.

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