How to Prepare Financially and Emotionally For Your Death Modest Money3 Comments

The following post is written by Mike Pleming.

Let’s talk about death.

More explicitly, let’s talk about the economic shockwaves your passing inflicts on loved ones if your finances are messier than two monkeys having a food fight in the Lehman Brothers’ cafeteria.

While it’s natural to avoid facing up to your own mortality, it’s far from natural to inflict additional suffering on your immediate family after bereavement by failing to plan ahead.Indeed, research has found that less than a third of us will talk to our families about what we want to happen when we die – and only 37 per cent of us have bothered to write a will.

With the costs of funerals rising year on year – latest studies have shown that costs have risen 80 per cent since 2004 – it’s clear that depending on the benevolence of your family is far from a good plan.

To avoid a situation where you don’t get the send off you deserve and your nearest and dearest are whacked by financial and emotional buckshot’s, it’s vital to get your house in order now.

But how?

Sort Out Your Will

The last thing you would want after your death is for your family to…

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