Bereavement Money Checklist: What to Do After a Loved One Dies

When someone dies, handling money and paperwork can be overwhelming for families, but breaking the process into clear steps can make it more manageable. The first task is to register the death. In England, Wales and Northern Ireland, this usually must be done within five days, while in Scotland the limit is eight days. Families should also order several official copies of the death certificate, because banks, insurers, pension providers and other organisations often require one before they can close accounts, transfer policies or process claims.

The next priority is to locate a valid will and confirm who has been named as executor. Financial adviser Ian Futcher of Quilter says the immediate focus should be on notifying key institutions and getting a clear picture of the deceased’s finances. Once the initial paperwork is underway, families should contact banks, pension providers, insurers and investment firms to report the death. Some companies offer a “tell us once” service, which can simplify the process if the deceased held multiple accounts with the same provider. This step can also help freeze accounts and reduce the risk of fraud or unauthorised access.

Executors then need to build a full list of the person’s assets and debts. This may include bank accounts, savings, investments, pensions, property, vehicles, jewellery, valuables, credit cards, loans, mortgages and unpaid bills. Doing this early helps prevent delays later in the probate process. Futcher warns that one of the most common problems is failing to find all accounts and policies, especially where someone had several pensions, old workplace schemes or small savings accounts that were never discussed with family.

Pensions, life insurance and employment benefits can be especially important, because some payments may pass to beneficiaries outside the estate. Executors should check whether pension nomination forms or “expression of wish” forms are up to date, as these can affect how benefits are distributed. Life insurance policies should also be identified quickly, since they may provide an early source of funds. Families should not forget possible death-in-service benefits or other support offered through an employer.

It is also important to deal with the home, ongoing bills and direct debits. If a property is left empty for a long period, insurers may restrict cover, so the insurer should be informed if necessary and the policy reviewed. Essential bills such as utilities and insurance should be kept up to date to protect the property, while unnecessary direct debits should be stopped to avoid continued payments.

Debts must be listed too, including mortgages, loans, credit cards, overdrafts and unpaid household bills. Creditors should be notified of the death so they understand the situation. Probate can take time, which may create short-term cashflow difficulties, especially when funeral costs or household expenses still need to be paid.

Finally, clear record-keeping is essential. Executors should keep copies of letters, statements, valuations, receipts and any documents linked to account closures or estate expenses. A full paper trail helps support probate and can reduce the risk of disputes, especially in larger or more complex estates. Futcher says that keeping financial information organised can make an already difficult process far easier, and that families can reduce stress by talking about money and estate plans before a death occurs.