How to Navigate the Financial Burdens of Bereavement
/When a close family member passes away, finding a way through bereavement can be traumatic. This is a difficult, delicate time, and you will need to find ways to mourn your loved one and honor their memory. Unfortunately, there is another side to bereavement that we all find it hard to talk about - the financial side. While we’d love for this process to be simple, in reality, the financial implications of bereavement can become complicated, from navigating funeral plans to interpreting a will, and many other concerns besides. These considerations can become complex and tied up with emotional trauma, so it’s important to seek clear and simple advice for how to navigate each particular area.
Funerals
When you are trying to organize the funeral of a loved one, the last thing you want to think about is cost. Now, most people will have some form of life insurance that provides a lump payment to cover areas including funeral costs, in which case you will have slightly less to worry about. However, there are some cases where a person might not have access to these funds, and planning a funeral can become caught up in financial considerations. The most important thing here is to not make a decision from a place of panic. It can be tempting to throw money at a funeral, but this not the answer. Instead, take a moment to consider what was important to your loved one. This is your chance to remember and celebrate their life, and that doesn’t have to be a high-budget affair. As long as it is personal, and it comes from your heart, it will be enough. Finally, don’t be afraid to ask your other relatives for help. This is a time for you to pull together, and chances are they will be more than willing to help you shoulder the burden. Remember, you are not alone.
Navigating Wills
The topic of wills can be a contentious one. After all, we could probably all name multiple films and TV shows where the main source of drama is a will-reading. The prospect of reading a will can be a daunting one, but you just have to remember that wills do not necessarily reflect the affections of the deceased, and they can be arbitrary at best. It is a part of grieving that many people become obsessed with the idea of the will, but this is not a particularly healthy response, so try not to place too much importance on them.
Of course, the financial implications can become more complex if there is no will to be read. In cases like this, it’s important for you to understand what assets are subject to probate, and to get in touch with a lawyer if you need further help. This will help take the burden off your shoulders if you know you are being supported by a professional. However, having a basic understanding of the law and your entitlements will ensure that no one can take advantage of you in the wake of your bereavement.
