Financial Guidance
This section is focused on being financially prepared for death. It's about getting your money-related affairs in order at the very least, so that those who manage your estate aren't financially inconvenienced in doing so. Ideally, it's also about ensuring your financial legacy is secure for your dependents and others you wish to recognise with gifts of money or other assets. Moreover, there are practical things you can do so that you too can feel financial security while you are still alive (even better!).
This section builds on the critical steps you will have taken in the 'Practical' section, so please visit there if you haven't already done so (for example, sorting a Will is probably definitely your Number One priority!).
You are also welcome to print my free Death Proofing Master Checklist that accompanies this section, which lists all the practical, financial and administrative activities that you might wish to complete.
Assuming you've already addressed the 'Practical' section then this is the next place for you to continue your 'death-proofing'. If you're feeling a bit lost, why not download our free master checklist (excel format) which provides a helpful summary of all areas to consider, with helpful columns including for you to capture specifics. You can then also store this and/or give to relatives should anything happen to you.
In terms of the financial steps, here's a summary of why they are useful (click on the links to go the specific, detailed page).
Organise a Pre-Planned Funeral
A pre-paid funeral plan allows you to lock in the cost of your funeral at today’s prices and ease the financial burden on your loved ones. You can also outline your wishes, helping avoid difficult decisions during an emotional time.
Create a Financial Lasting Power of Attorney (LPA)
This lets you appoint someone you trust to manage your finances if you lose capacity. They’ll be able to handle bills, bank accounts, property, and more—giving you peace of mind that someone responsible is in place.
Arrange Life Insurance
Life insurance provides a lump sum to your beneficiaries if you die during the policy term. It’s one of the simplest ways to protect your family from financial hardship and cover things like mortgages, debts, or living costs.
Arrange Critical Illness Cover
Critical illness cover pays out a tax-free lump sum if you’re diagnosed with a serious illness (such as cancer, stroke, or heart attack). It can be a lifeline—giving you breathing room to recover without money worries.
Minimise Inheritance Tax
Without careful planning, inheritance tax can take a hefty bite out of your estate. This section explains ways to reduce your liability—including lifetime gifts, trusts, charity donations, and using your full tax-free allowance.
Organise Investments and Pensions
Your pensions and investments form a big part of your financial legacy. This section guides you on consolidating accounts, nominating beneficiaries, and making sure your money is set up to benefit those you leave behind.
Create Trusts for Beneficiaries
Trusts can be powerful tools to protect your assets, control how and when your beneficiaries receive them, and reduce tax liabilities. Especially useful for young children, vulnerable adults, or more complex family situations.
Make Bequeathments
Beyond what's in your will, this is your chance to be specific about personal items or cash gifts. You can help avoid confusion and ensure sentimental or valuable items go to the right people.
Death-Proof Your Business
If you own a small business, this section helps you prepare for continuity after your death. It covers how to choose a successor, protect cash flow, avoid legal wrangling, and use tax reliefs like Business Property Relief to prevent the business being crippled by inheritance tax.