Getting Your Affairs in Order for Those You Love: A Handy Guide

From dealing with debts to combining savings accounts and collating relevant information into one, handy place, you could make a firm plan right now to ensure those you care about can easily manage your estate when the time inevitably comes.

You might also decide to build up savings, get the right insurance in place, and/or open accounts for your children. What we will say is this: if you look at the task as the huge undertaking it seems, you’ll likely never get things sorted. Instead, break things down into smaller jobs (tackling, say, one per month) and before the end of the year you will probably likely feel much lighter. Read on for our top tips…


Securely Store Your Financial Documents

While we’re aware this is a gloomy subject, it’s still an important one: the matter of compiling your financial documents – a ‘What to Do When I Die’ organiser’, if you will – ready for those who need to access them later. This will comprise everything from where to find your funeral plan and/or will, to what you’d like to happen to any social media accounts you may have.

Begin by sitting down and thinking about what needs to be done before you die; you don’t have to do this step alone – you could do it with your spouse or even your grown-up children. Consider compiling the information you need, one section at a time, to ensure the task isn’t so overwhelming.

Your folder will need to contain your personal details, including your name, date of birth, driving licence and passport number, Natural Insurance number, and next of kin, as well as any other relevant information you can think of.

You’ll want to store such sensitive financial documents somewhere secure, ensuring that the information doesn’t fall into the wrong hands in the meantime, and you might want to also make more than one copy.

Include key contacts (your solicitor, financial advisor and your accountant – if you have one) to help the person(s) who will later need this vital info.


Start With Your Accounts

Which companies do you hold accounts with? Do you have any customer numbers your loved ones will need at a later date?

Maybe you have multiple accounts with the same bank or building society, for instance. From the outset, your finances may seem pretty straightforward. Sit down and give your situation some thought, though; you could have money in more places than you realise.

Perhaps you have a Lifetime ISA* or other long-term savings account, or maybe you opened up a savings account or two for your children?

You will want to note down every account and savings pot, whether they are within a bank or even an investment pot in the form of a second property, beloved car, or holiday home.


Everything Else

Getting your affairs in order doesn’t start and end with your finances. If you have children under the age of 18 (or 16 in Scotland), for example, you will need to appoint a legal guardian for them. While this is usually laid out in your will, you could reiterate who you would like to appoint in your ‘what to do when I die’ folder. The same goes for family pets; you may wish to outline who you would like to take care of them.

You could also have plans in mind for your own funeral, such as who you would like to invite and even what music you’d like played. Again, these are all considerations when you sit down to consider your wishes.

If you’re a Facebook user, you may want to make your family aware of your login details – within the folder, of course – to allow them to access or take over your account later, to let people know of your passing, or to share memorable moments of your time together.

Want to chat to us about our savings products for kids* – and or our accounts for the over 50s?

If you are over 50, it’s well worth considering taking out some Over 50s Life Insurance, to leave something behind to those you love. The Unity Mutual Over 50s Life Insurance* requires no medical exam, and premiums start from just £5 per month.


Getting your affairs in order needn’t be bleak; it can actually feel fairly liberating to know it’s another ‘life admin’ task ticked off the to-do list.


Do not hesitate to say hello to our friendly team via our website or by phone, on (0161) 214 4650, if you have any queries.


Until next time…


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