Losing a loved one can be one of the hardest times in a person’s life. Your whole world is turned upside down, whether you were expecting the bereavement or not. Suddenly everything has changed in your world and you are having to navigate a new path in life without that loved one.

When it comes to Financial Planning after the loss of a loved one, it can be particularly scary if the person who has died was the one that was responsible for all the finances. On top of everything else you are going through at this very difficult time there is fear of this new responsibility of managing your finances and the question of ‘will I be ok?’.

The first thing we would say is don’t panic, and don’t make any decisions immediately. It is said there are anywhere between 4 and 7 stages of grief that a person goes through after the loss of a loved one, depending upon how you categorise them and it is very important that you don’t make any big decisions in the first couple of stages when you may feel as though you are wandering around in a fog. During this time, it is important to concentrate on the things that need to be done and concentrate on yourself and your family

There are some basics you will need to do at the outset regarding your finances. For example, you will need to ensure bills are paid, go through the will and maybe engage a solicitor to deal with probate matters but beyond that, try not to make any big decisions at the beginning of the healing process.

Read Government guidance on probate and wills »

When, and only when, you feel ready to engage with a financial planner to help you make any decisions, our financial planners at KBA are ready to help. We have a team of both male and female financial planners to guide you through the financial advice process. We have dealt with a range of clients after the loss of a loved one, in lots of different circumstances. We can help you with budgeting, reviewing the savings, investments and assets that you have, claiming on any available insurances such as life cover and guiding you with the latest pension rules on death to ensure you make the right decisions going forward.

We are here to help you through this most difficult of times and to guide you so you have the right plans in place for your financial future