Welcome to a new series of bite-sized, easy-to-implement practical tools and tips when it comes to all things End of Life Planning. In this first ‘episode’, I’m sharing my 3 top tips for getting started with managing your household accounts and getting them in order as part of your EoL Plan. And the best part? It should take you well under an hour to put these things in place. Sound interesting? Keep reading!
Top Tip 1
If you share the household bills with someone, make sure the accounts have both names on them.
Whilst it’s not a panacea, if both of your names are on the account, then it’s much easier if something happens to one of you, for the other to be able to talk to the company involved.
Importantly, it helps to avoid the conversation where they tell you they can ‘only talk to the account holder’, especially if you’re calling to tell them that the account holder has died!
It’s a small thing in terms of action and will take just a few minutes of your time (depending on the call time to get through in the first place!), but it really is worth it.
Top Tip 2
Write down a VERY high-level list of all the accounts you hold (online and offline) and share with someone so they have a head start on what to look for, should they need it.
There is no sensitive information recorded on this list so security should in no way be compromised – it’s just a ‘signpost’ but still more helpful than nothing at all!
Top Tip 3
Even if you don’t bother with the first two tips, please do consider implementing this one which is to share the passcode/password to both your phone and your computer with a close, trusted source.
If something happened to you and someone is able to access your digital equipment – your phone and your computer – they stand a much better chance of being able to find some of the information that they’re looking for.
It doesn’t have to be a family member. It could be a close friend. It could be a colleague. It could be someone like your accountant or your solicitor.
Anyone who you trust with this information who has no reason to access it right now but could be immeasurably beneficial to them at some point in the future
Remember the Golden Question
Remember the golden question in End of Life Planning, “If I had died yesterday, would the people around me have access to the information that they would need today?”
That’s the reason for giving your password; your phone – your computer/laptop/tablet – if you just do that and nothing else.
It’ll take you a couple of minutes and it’s an insurance that’s now in place that will be so valuable if – when – the time comes to use it.
I hope these three tips have been helpful – do let me know in the comments below.
Until next time, take care.