Latest news with #griefsupport
The Independent
15 hours ago
- Business
- The Independent
Experts suggest how you should deal with debt after a loved one dies
Navigating the financial complexities that arise after losing a loved one can feel like an insurmountable task when dealing with grief. Yet, understanding the immediate financial implications of debt becomes essential during such times. Two financial experts offer guidance on managing debt. This includes everything from assessing liabilities to understanding wills and identifying situations where payment may not be required. First steps: Pause, notify and organise Handling financial matters after a loved one's death can feel both overwhelming and daunting. 'In England and Wales, obtaining grant of probate or letters of administration should be the priority, as banks and lenders will normally only take instruction from an executor or administrator,' explains head of private clients at St. James's Place, Iain McLeod. Securing this legal documentation allows the estate to be managed properly – and prevents delays when dealing with financial institutions. External relations manager at Money Wellness Daniel Woodhouse echoes the need for clarity and swift communication. 'The first thing we'd suggest is letting any creditors know that the person has passed away,' he says, 'they'll usually pause the account while things are sorted, which gives you some breathing space.' He advises obtaining several official copies of the death certificate early on, as creditors may request one. Once notifications have been made, it's time to assess the full scope of the deceased's financial obligations. 'Start pulling together any paperwork that shows what debts or accounts were in their name,' says Woodhouse. Accessing a credit report is also helpful for building a complete picture of what's owed. Who owes what when it comes to a deceased person's debt is possibly the most common question. 'Debts are not inherited in the UK,' says McLeod. 'Family members can only be responsible for a deceased person's debts if it was a joint loan or agreement, or provided a loan guarantee, for example.' However, the rules are strict. 'If someone dies, their debt becomes a liability of their estate,' he explains. 'The Personal Representative of the estate will use the assets of the estate to help settle the debt. If the estate does not have sufficient funds, it becomes an insolvent estate. In that situation, there is a prescribed order for how the debts are to be repaid.' What happens to joint debts? Responsibilities are different for shared debts however. 'If you had a joint loan or shared overdraft with the person who passed away, you'll usually become responsible for the remaining balance,' says Woodhouse. 'It's really important to speak to the lender and let them know what's happened. Most will be understanding and may be able to offer more manageable repayment options.' Credit card debt, however, is more nuanced. 'With credit cards, these are only ever in one name – however, the credit provider may allow a second card for a partner or spouse to use,' says McLeod. 'The debt is the responsibility of the estate of the deceased primary cardholder. Additional card holders may consider applying for a new credit card in their own name if eligible.' But being an additional cardholder on someone's credit card isn't the same as a joint debt. 'You wouldn't normally be liable for the balance in that case,' says Woodhouse. Can inheritance be claimed by creditors? The short answer is yes, but only indirectly. 'Creditors can't go after beneficiaries directly,' says Woodhouse. 'But debts must be paid from the estate before any inheritance is passed on. 'If money is handed out too soon, there's a risk it could be claimed back to pay off outstanding debts. That's why it's so important to follow the right process.' McLeod underscores the legal implications: 'Great care should be taken in the administration of an estate which may be insolvent, and seeking legal guidance where appropriate is advised. 'Executors are strongly advised to receive written confirmation that any debts are repaid or written off before any distributions can be made to beneficiaries.' If assets have been distributed without settling all the estate's debts, McLeod warns that the executor could be personally liable. Mistakes to avoid There are common mistakes that are important to avoid when it comes to managing posthumous debt. ' One of the most common mistakes is paying debts out of your own pocket straight away, thinking you have to – when in many cases, you don't,' says Woodhouse. 'Another is putting it off completely because it all feels too overwhelming. The best thing you can do is take it one step at a time, keep a record of who you've spoken to, and get the right support early on. You don't have to go through it alone.' If you're struggling with debt after the loss of a loved one, there are support systems available. ' Charities like Cruse or Marie Curie can provide emotional support when you're grieving,' says Woodhouse. 'It's also worth checking if you're eligible for the Bereavement Support Payment, especially if you were the partner of the person who died. It's a tax-free payment that could make a real difference. You can find more information on
CTV News
3 days ago
- General
- CTV News
How CHEO supports kids and families through grief
Ottawa Watch We tell you about the importance of supporting children and families who are grieving.
Yahoo
6 days ago
- General
- Yahoo
Eden Valley Hospice to host walking group in Chances Park next month
EDEN Valley Hospice are hosting a walk and talk group next month for adults coping with the loss of a loved one. The walking group takes place at 11am on the first Tuesday of every month in Chances Park on Wigton Road in Carlisle. Next month's session will be on Tuesday, June 3. The group is free and described as a 'welcoming space to meet new people, share experiences, and receive support from others who understand.' READ MORE: B&M Bargains welcomes customers to new Carlisle city centre shop Eden Valley Hospice added: 'Whether you're seeking companionship or a listening ear on tough days, this group offers comfort through connection and movement.' It is open to anyone, not just those who have been supported by the hospice. To find out more, you can email livingwell@
CTV News
26-05-2025
- General
- CTV News
'Absolutely unimaginable time' school board says after crash
'Absolutely unimaginable time' school board says after crash Bluewater District School Board member Jamie Prett says support, tributes will be in place after crash kills 4 students, teacher; safe spaces to be set up for the grieving school community members.
Yahoo
17-05-2025
- Health
- Yahoo
Palestine family donates infant preservation device to hospital
PALESTINE, Texas (KETK) — A Palestine family, who lost their infant daughter last year, donated their infant preservation device to a local hospital so other families could spend more time with their recently deceased babies. Tyler research firm awarded $278 million in Samsung patent lawsuit Last year, the Pierce family went through the unthinkable when they lost their infant daughter to a rare neural tube defect. 'Skipper Kate was diagnosed with a rare and fatal neural tube defect, called anencephaly,' Sayler Pierce said. While nothing could sooth their pain, all they wanted was another moment with Skipper Kate. The moment may not have been the way they imagined it, but the family was able to use a Cuddle Cot to make it happen. 'This device gave us the gift of time,' Pierce said. 'It keeps them cold. And by keeping them cold, it allows families to get time they otherwise would not have gotten without the aid of this cooling device.' Lake Striker Boat Race returns to Reklaw this weekend Now Sayler and Noah Pierce are giving the same gift to other families by donating the device to Palestine Regional Medical Center. 'We knew one way that we wanted to honor her life was with a Cuddle Cot donation to each hospital,' Sayler said. 'It's an honor of both our daughter, Skipper Kate, as well as her Aunt Savannah, who passed away on December 28, 1996.' The hospital said they could not afford the device, but the Pierce family's donation allows the hospital to offer this service to other families. 'This is just an unbelievable blessing because it's something we probably would not have been able to do with our own facility,' maternal child health director, Melissa Jones said. Families dealing with a tragedy will now have the gift of extended time. 'This just kind of helps that process,' Jones said. 'It gives them time to just be able to bond and be with the family and experience the loss together.' Lufkin honors fallen officers at memorial service ceremony This device may not be the last donation the family intends to give. 'Our goal is to spread Cuddle Cots around to give at least 1 to 2 devices to each hospital so that those families walking through that season will have the gift of time,' Pierce said. Through their donations, the family hopes Skipper Kate's memory will live on. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
