While preparing for a time when you are gone can be morbid, sorting out your financial matters now will help to protect your loved ones later on.

Take a look at these considerations.

Do you have an up-to-date Will?
Make sure you have a valid and current Will in place. A Will clarifies how you wish your estate to be distributed and should be updated to reflect your current circumstances.

Are your documents in a safe and secure place?
Gather your important financial documents and store them in a secure file. Make sure the executor handling your estate will access these documents with no trouble.

Sit down with your partner
Depending on your situation, you may find it handy to discuss a plan with your partner and family. Do they know who your executor will be? How to access your life insurance?

You might also want to check if your partner will be able to access your bank accounts should anything happen to you.

Life insurance
Purchasing cover may be wise if you have a partner who relies on you to pay part of the mortgage on your family home or if you have dependents to look after. Investing in cover ensures your family will receive a lump sum from your insurer in the event of your death.

By having a plan in place, you can help to avoid leaving behind a financial mess for your loved ones.