It is surprising how many people don’t plan for an event as inevitable as death. Unfortunately, that places the financial burden of arrangements on the shoulders of their loved ones. This is especially true in cases of an unexpected death, for example, from an accident.

Here are some tips to plan responsibly for yourself and also to cope with the sudden death of a loved one. We touch on making preparations in advance, knowing what expenses to expect, and getting fast cash loans to cope with urgent expenses.

Planning Ahead

Legal matters

Some of the most stressful things to manage after the death of a loved one are matters concerning inheritance. These issues have the potential to cause a lot of unnecessary friction between close family members at a time when unity should prevail.

All this can easily be avoided by hiring an estate attorney in advance. These lawyers help their clients draft clear and precise instructions regarding all their assets in a certified will. Legal fees are not cheap and a cash loan could help you pay these expenses.

Financial matters

Banks as well as payment gateway operators such as PayPal collect fees and charges from dormant accounts. An online operator like PayPal does not even attempt to contact next of kin unless the account holder has filed all the necessary paperwork and uploaded it to their website.

Prepare for this eventuality by identifying all your accounts and sharing them with your lawyer and/or close family. You do not have to disclose the balance in the accounts, only that they exist. In the event of death, your loved ones will know to approach the financial institutions to disburse it in accordance with your will. 

Place documents such as deeds to your home, vehicle and stocks titles, CPF information, and insurance policies in a safe, accessible place. Give copies to your lawyer.

Managing Expenses

Paperwork

You will need certain certified documents to execute a will. The most important of these is the deceased person’s death certificate. It is issued by a medical doctor in most cases but may also need to be verified by a coroner in cases of unnatural death.

Ask for multiple copies of these documents. You will need original copies for some administrative procedures such as funeral arrangements as well as contacting banks. You can use fast cash loans even for these small expenses.

Funeral/cremation arrangements

It is a good idea to speak with your loved ones about whether they have pre-purchased funeral or cremation services, including specifics like the coffin or urn, their choice of a priest, and the religious institution.

These expenses almost always form the largest part of all post-death costs. They are a common reason for an instant cash loan Singapore residents use. If you take responsibility for these expenses, keep the receipts. You will be able to reclaim these costs from the deceased’s estate.

Other expenses

Your loved one may have outstanding payments on a personal or cash loan, utility bills, and their mortgage. These payments will have to be settled before any funds or assets are distributed to the beneficiaries of the will.

If you are one of the beneficiaries, consider taking an urgent cash loan to get the process moving immediately. You may be able to reclaim this from the estate as well.

Also read: Information on Loans – Different Types, Rate of Interest and Tenure

Financing the Process

The aftermath of the death of a loved one can be expensive. Many Singaporeans take an urgent cash loan to cope with the expenses. By taking an instant cash loan Singapore residents can focus on the meaningful things for a dignified send-off at a stressful time.

However, some unscrupulous illegal money lenders may try to take advantage of your distracted state of mind. Make sure that you are aware of the notorious types of scammers to watch out for when seeking a fast cash loan. 

When you lose a loved one, do not feel rushed or pressured into making hasty decisions, financial or otherwise. Most companies are very understanding of people grieving a loss. They will usually give you time to process the event and come to terms with it. 

Make adequate preparations well in advance, be aware of the possible expenses, and know where to get the funds. It will make the grief and stress of loss much more bearable. 

Also Read: All You Need To Know About COVID Insurance