Dealing with bereavement can affect your financial situation, especially if it means your household income is reduced.
It can be frightening if you’re left to deal with things on your own. You may find some of the information below useful, if you’re unsure on how you’re financial situation has been affected.
Debts and assets
If your partner had assets, such as equity in a property, money in the bank or other valuable items, their creditors may take some of this to pay clear debts that were solely in your partner’s name. The probate solicitors would organise this.
If your partner didn’t have any assets, any debts that were in their name only would be written off. You wouldn’t need to make any payments towards them.
Joint debts
If you and your partner had any joint debts, you will need to continue repaying the debt until it’s cleared in full.
Legal agreements
You’ll need to transfer any legal agreements, such as tenancy agreements, utility bills or any other joint contracts you had into your own name. If any of these agreements are in arrears you’ll need to pay the normal monthly amount plus something towards the arrears.
Insurance policies
Check if your partner had any insurance policies you can make a claim on. If your partner had life insurance to cover a mortgage, this could mean that a portion, or the entire mortgage, being paid off.
The impact of bereavement
The loss of a partner might mean that you can claim extra benefits, you can check your entitlement using our free welfare benefits checker. This will tell you exactly what benefits you can claim, and how much you can expect to receive.
You may be entitled to a bereavement payment or allowance, or a widow(er)’s parent’s allowance if you have dependent children.
If you’re the only adult in the property, Make sure you contact your local council as you will be entitled to a 25% discount on your council tax.
Help and advice
If you've got any questions about how bereavement will affect your financial situation, call our free helpline on 0800 138 1111. One of our expert advisors will discuss any concerns you might have.
Cruise Bereavement Care and Age UK can also offer you additional help and support.
