Death of a Partner
Losing a loved one is always hard, both emotionally and practically. Whether it was expected or not there are many things worth considering immediately after the passing of a partner. The Money Advice Service offers good practical advice on what needs doing in the first days and weeks and BereavementUK is a good place to start if you are looking for emotional help or support.
Things to Consider
Once you have dealt with the immediate issues and practicalities it is a good idea to review your financial circumstances with a professional financial adviser. A financial adviser will be able to help you to make the most of any life insurance and pension benefits you may have received. This therefore helps to ensure that they are used in the best way to keep your family supported. Financial advisers can also help you restructure your mortgage and any other financial commitments you may have, enabling you to be in the most secure position possible at this time. You should consider reviewing your insurance and protection provision, your previous policies may have been in joint names or may no longer meet or current needs based on your new circumstances.
No one likes to think about losing a loved one, but planning ahead can ensure that financial difficulties don’t cause you unecessary stress on top of your grief. Having sufficient protection cover in place can mean that should the worst happen, your loved ones can continue to live in the family home and be spared the anxiety of worrying how to make ends meet. A financial adviser can help you to come up with a protection plan and regularly review it to ensure it continues to meet your needs, doing so can be a big help to you or your loved ones should the worst happen.
You might want to consider a professional who advise on some or all of the following product areas: Investment, Insurance, Mortgage, Pension and/or Protection.