Death is inevitable and we are all well aware of this. Though we know this fact, it never helps us or prevents us from feeling a heavy sense of loss and mourning the death of our loved ones.
Though this is the third perspective of death, as the first person, there are certain things you can do and some responsibilities that you need to fulfil to make the event of your demise a little bit easier and a bit less painful for your family members. Here in this article, we have prepared a checklist in the event of your death that you need to finish before you go.
Discussing this topic may be considered unpleasant for some and by some. However, practically speaking, there is no match for the benefits we can reap when you are prepared, informed and ready. Refer the website of the Waepa that has many informative articles in their resource section.
You can also become a member and can apply for their insurance schemes right from their website. Read about their claim procedure and you can contact them via their contact us page online.
Here is the checklist for you
- Make sure your family knows all the details of your financial transactions, your property and liability details.
- Store your property documents in a place that is accessible for your beneficiaries.
- Make sure you have an insurance coverage and if you have loans, term insurances will be of great use.
- Keep the insurance documents easily available for them.
- Make sure you make the payments promptly and educate your family members about the claiming procedures.
- Your family members should know about your income and expenditures in detail.
- They should also know the details about the financial transactions that you have done and if you have lent money to anyone.
- It is best to put down all the facts and figures in an excel sheet and keep it accessible for your immediate family members.
- Make sure that your bank accounts, insurance policies and bonds have the right nominee names.
- Keep information on who inherits what from you and register the will legally.
If these financial and legal mandates are fulfilled correctly, it makes it so much easier to handle financial issues or commitments, if any without having struggling to find and understand the facts and figures.
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