It is a common misconception by many that when a person dies, their financial debt left behind can and will be written off.
Unfortunately this is not the case, and in many cases the death of a person will have nothing to do with the debt outstanding. Therefore it is important to get bills that can be terminated under control as quickly as possible to avoid accruing further debt.
Sadly when a person dies, there will be areas of their life that will still go on ‘as normal’ unless addressed, and the relevant parties informed. These will include areas such as mortgages, household bills, rent - particularly in the case of council and housing estates - water rates and telephone charges.
Other areas that will need addressing will be things such as insurance policies such as life, car, house and contents etc. Pension and social security departments will also need to be notified if they are active.
Ideally the deceased will have left a Will in place naming an individual or individuals as Executor whose responsibility it will be to carry out the wishes of the deceased and attend to their financial affairs.
Personal loans and credit cards will also need informing as quickly as possible.
Here to help you
Your Funeral Arranger will be available to offer advice and arrange legal experts who will help you with these matters which can seem very daunting when also dealing with the grief and stress surrounding a loved one's death.
Personal Touch Funeral Planning, here to help you