Estate Plan – the seven critical documents that you need

You may have heard of the term “estate plan”. Perhaps you know it has something to do with your Last Will and Testament. But what exactly is an estate plan and how do you set one up?

In short, an estate plan is a set of documents that allow you to control your health and financial affairs when you are alive, but unable to handle them yourself, and also take care of your financial affairs after you have passed away. There are five classic documents that form a complete estate plan, but two additional documents that we feel, in 2016, that you should add to round out your plan.

They key word here is “plan”. These documents all allow you to describe what will happen if you are unable to take care of things yourself. You name individuals to take on your responsibilities and provide them with clear instructions on what to do. Which means that you can only prepare these documents when you have full mental capacity. You cannot wait until you no longer have capacity. If this ever happens to you, through illness or accident, it is then too late to prepare any of these documents.

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The cost of a funeral: Guest Post

This is a guest post written by Juliette Kay

One of the biggest expenses that you may occur in life is one that you’ll never actually have to pay for—but your family will. It’s your funeral expenses, and the true cost of a funeral may surprise you. Here’s a rough breakdown of what you might expect to pay for various funeral options.

cost of a funeral

The average funeral, according to the 2014 Sun Life Direct Cost of Dying Reportcan cost as much as £3,590. Adding in discretionary funeral costs, and expenses associated with the administration of the deceased’s estate, the final total can rise to more than £8,000. Continue reading