When a loved one dies, it’s natural for practical matters to fall by the wayside as we try to cope with this massive life event. But it’s not always possible to give in fully to this emotional time, as responsibilities eventually come to the forefront. Once the death is registered, the funeral has taken place and normality is supposed to return, money matters are suddenly high on the list of things to consider. Because it’s a difficult time, it’s wise to be aware of the basic steps in advance so expenditure of mental energy can be minimised.
Here’s an overview of what to consider when sorting out a loved one’s financial affairs.
Contact government departments
One of the first jobs is to let the government know of the death. Their ‘Tell Us Once’ service means it can all happen in one go. You’ll need information like the executor of the estate (this is the person who is dealing with the estate – they are either named in the will, or next of kin) and the reference number given by the registrar who registered the death. Among other things, this will cancel benefits like pensions or housing benefits, and cancel official documents like their passport and driving licence. It will also remove their name from the electoral register.
Consider any changes in your tax and benefit
If it’s your partner who has died, your financial circumstances are likely to change. This may affect how much tax you pay or benefits you’re owed. The gov.uk site has good information to help you work this out.
Notify relevant organisations
As soon as possible, you’ll need to tell the most important parties, like their employer, their landlord or mortgage provider and their utility companies. If you’re not sure who these companies are, finding their credit report will shed light. Between the three main credit reference agencies Experian (whose basic report is free), Equifax and TransUnion, the reports lay out much of someone’s regular financial outgoings. If you report a death to Experian, they can informally let providers know. This can ease the burden – but if you don’t hear from the providers, you’ll still need to contact them individually to ensure they’ve taken the right actions.
To contact credit reference agencies about a loved one, you will either need to be an executor of the will or have probate to obtain these reports.