BEREAVEMENT GUIDANCE 

Requirements of a firm

There are no legal requirements on an adviser firm in terms of Bereavement but there are ways an adviser can help the bereaved and assist in making the process as simple and painless as possible.  Much of what an adviser will do in the case of a client’s death will likely depend on the ongoing relationship with the deceased client and/or their family, the products involved and the individual circumstances of the case.

What to do when someone dies

The widowed spouse/partner and/or family, whilst dealing with their own grief,  will have to follow a number of steps to ensure that the death had been dealt with both legally and financially as well as for their own circumstances.  THIS IS WHERE YOU CAN HELP.

1. Register the death.

2. Arrange the funeral.

3. Tell the Government about the death.

4. Check: 

       a) Bereavement Benefits

       b) Changes to own existing benefits, pensions and taxes

       c) If they need to apply to stay in the UK

5. Deal with their estate 

SEE ATTACHED for download 

All life insurance salesmen remember their first death of a customer who bought a policy.   My own recollections of Tom Lawrence, descendent of the painter are of course sad for him, his parents, and his young children, but also full of regret at my own ineptitude despite having nearly broken his arm just six months before clumsily selling him a £250k Allied Dunbar policy – and that was in 1993.   By the time I recovered the sense to help with the claim, the lawyers had taken over, and that is the last time I ever spoke to that family. charlie.palmer@ifac.eu