Why use family favour?

Too many people die without their affairs in order. Surviving family members can be overwhelmed when loved ones leave behind contradictory or incomplete information.

If heirs cannot find all of your financial records, then they might not be able to trace all of your estate's assets. It can cost thousands of pounds to pay a solicitor to do the required searches. Situations like this can result in stress and disharmony for your family and friends.

The purpose of the Family Favour document is to order your affairs in advance of any major life event. This will make things easier for family should you die or become incapacitated. It will ensure that no unnecessary debts are incurred, that assets are quickly distributed and that your wishes are met.

We recommend that a copy of the Family Favour document is given to relatives and that the papers listed, such as wills and bond certificates, are kept in an easily identified document box.

Would you like to organise a Family Favour speaker for your group? Please get in touch to discuss it with the Family Favour team.

Advantages

The listed information will mean that you do not have to commission a solicitor to write letters on your behalf which could cost your family thousands of pounds.

Matters can be sorted out quickly and efficiently.

Family distress and disharmony will be minimised.

There will be peace of mind.

The solicitor’s details can be included within your Family Favour document. We strongly recommend that you complete a legal will, and record the details of the will holder in your document.

The Process

The process starts with a fact finding discussion at a time that is convenient for you. At this meeting we will ask for different types of information such as bank account address details, National Insurance number, Utility bills, funeral requests and association membership.

We do not require bank balances, just account details so that the next of kin can take the appropriate action. The fact finding meeting is best done at the individual’s home where all the paperwork will be available and they can access the appropriate information.

The information is then collated and research is done to determine any specific questions required during the follow up. A week later the document is delivered to the individual with an electronic version if so requested.

We recommend that you review this on an annual basis or if any major life event occurs, such as changes in your health, marriage or the birth of a child.

The finished document contains guidance notes on what action the family should take upon death or incapacitation. It contains your wishes and whom you would like informed.