Financial & Legal Matters

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Losing someone close to you is difficult. Dealing with financial and legal matters adds to the stress. Taking these tasks one step at a time makes them manageable.

Understanding what is required helps you prepare for the weeks ahead.

Funeral Budget

Funeral costs vary significantly. The total depends on your choices and location.

A typical funeral invoice includes:

  1. Funeral director's professional fees
  2. Cremation or burial fees
  3. Coffin or casket
  4. Minister, celebrant, or officiant
  5. Funeral vehicles
  6. Flowers and Order of Service booklets

Funeral Expenses

Many funeral directors require payment before the service takes place. 

Money to pay for a funeral may come from:

  1.  Personal savings or a prepaid funeral plan
  2. The deceased's bank account
  3.  Life insurance or pension benefits
  4. Contributions from family and friends
  5. Government or charitable assistance

Always keep copies of all invoices and receipts.

Help with Funeral Costs

You may be eligible for a DWP Funeral Expenses Payment. You must receive certain qualifying benefits to apply. Eligibility depends on your relationship to the person who died. 

Additional support may be available through: 

  1. Local councils and charitable organisations
  2. Trade unions and benevolent funds
  3. Military charities

Citizens Advice and the DWP can explain the support available.

Probate

Probate is the legal process of dealing with someone's estate. If the person left a valid Will, the named executor applies for Probate.

If there is no Will, a close relative applies for Letters of Administration. Not every estate requires Probate. Whether it is needed depends on the total value of the estate .It also depends on how the assets were owned. 

Probate is rarely needed if assets were fully owned jointly.

The Role of an Executor

An executor is legally responsible for administering the estate. 

Their responsibilities may include:

  1. Registering the death and arranging the funeral
  2. Locating the Will and valuing the estate
  3. Applying for Probate if required
  4. Paying outstanding debts and taxes
  5. Closing bank accounts and selling property
  6. Distributing the estate to beneficiaries

Being an executor carries important legal responsibilities. The entire process can take several months to complete.

Estate Administration

This involves collecting assets, settling debts, and distributing the remaining estate. 

Tasks usually include:

  1. Contacting banks and building societies
  2. Cancelling utility and insurance accounts
  3. Informing pension providers and HMRC
  4. Paying outstanding bills
  5. Redirecting the deceased's post

Some complex estates require professional legal advice.

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