Having the status of Chartered Accountants we are often faced with resolving the financial affairs of clients passing away suddenly.
If plans for economic management have not been put in place, this can cause solemn problems for those left behind. Here’s a straightforward checklist that can help. It’s our responsibility to ensure we do these things before we die:
1. Record the name of your bank account numbers and passwords. Keep this information confidential. Put it with your lawyer or your accountant or better still, both professionals. Ensure that the document is only to be opened and read upon your death.
2. Record a written message to your spouse or family, your lawyer or your accountant. Stipulate the steps that should be taken on your passing. For instance, does someone owe you some money which hasn’t been recorded in say your financial statements but which you want collected on your death? Continue reading ‘Do You Have a Financial Game-Plan For When You Die?’ »