• Home
  • About
  • Advertise
  • Contact
  • Policy
  • Guest Post
  • Archive

One Cent At A Time

A Personal finance blog to get rich

  • Email
  • Facebook
  • Pinterest
  • RSS
  • Twitter
  • Beautiful Life
  • Becoming Rich
  • Beginners Guide
  • Extra Income
  • Productivity
  • Saving Money

Fatal Accident Claims – Financial Consideration

May 20, 2021 Leave a Comment

Share this:

  • Tweet
  • Email

Losing a loved one unexpectedly as a result of an accident that wasn’t the deceased’s fault can cause a series of difficult and traumatic events for the family. As well as grieving, those close to the deceased are left to deal with several financial issues. This is why fatal accident claims is an essential part of the process for coping with the loss, both emotionally and financially.

Fatal Accident Claims - Financial Consideration

R James Hutcheon Solicitors is a professional law firm in the United Kingdom that specializes in ensuring family members receive the financial support they require following the unlawful death of a loved one. In this article they will summarize some of the main financial considerations that arise due to the aftermath of an unexpected death.

Funeral Expenses

One of the biggest financial burdens following the death of a loved one involves planning the funeral arrangements. The funeral expenses can clash with the grieving emotions to add more stress and worry on the shoulders of the family.

People who are of old age or have suffered for a long time with illness will likely have prepared a will and funeral arrangements in advance.

In unexpected deaths, it’s unlikely that funeral plans will have already been set in motion. Funerals can be very costly with fees usually well into the thousands of pounds.

When paying for a funeral, you will have to consider elements such as funeral director fees, burial or cremation fees, hire of limousines and flowers, and renting out a venue for the funeral wake.

Bills Belonging to the Deceased

When a person dies, not everyone with connections to the deceased will immediately be informed. This includes businesses who will be expecting bills to be paid by the deceased.

As the victim’s spouse, you may have to inform the business about the death so that the bills can cease to exist. Bills may things such as utilities, insurance, mobile phones, memberships and subscriptions.

Even if the deceased was responsible for the payment, if you live at the same property, then failure to inform them could cause debt collectors to show up which can add extra stress.

If the deceased was responsible for bills for services that you had access to, then you may end up losing the service.

If the bill was a joint agreement with you and the deceased, then it will usually become your personal debt. Elsewise, if the debt was solely that of the deceased, then it will usually be owned by the estate.

A solicitor can inform you about the options available to you and explain what you are and are not responsible for.

Loss of Dependency

Another financial consideration to take into account is the implications that the death will have on your way of life.

If a portion of the deceased’s income was used by yourself as a means of living, then this can be considered as a loss of dependency. Situations like this may mean struggling to pay rent, take care of children or buy necessities such as groceries.

The next section will explain some of the benefits and compensation awards that are in place to help cover the expenses and loss of dependency accrued as a result of the death.

Benefits for a Bereavement

In the UK there is a system in place called the Bereavement Support Payment which is designed to help families cope financially following the death of a loved one.

There are two rates for this benefit payout, the first of which is a higher rate provided to pregnant woman or those entitled to child benefit.

This provides those eligible with a one-off payment of £3,500 for the first month and £350 monthly payments for 18 months. Others would be eligible for the standard rate which provides £2,500 for the first month and £100 for 18 months.

As part of a compensation claim, you can also work with a specialist solicitor to receive additional funding. The bereavement award provides a statutory amount of £12,980 for those who meet the criteria.

A dependency claim can also be pursued which argues how the loss of life has negatively affected your life due to the loss of dependency in regards to financial circumstances.

LIKE THIS POST?
I agree to have my personal information transfered to MailChimp ( more information )
Join our community of 8000+ subscribers to increase your net worth and build wealth
We hate spam. Your email address will not be sold or shared with anyone else.

Share this:

  • Tweet
  • Email
The tool that changed the way I manage my personal finance - Personal Capital, The Best Free Personal Finance Tool

Want to start a WordPress blog now? The onecentatatime.com blog is hosted by Siteground Web Hosting. For only $3.95 a month, Siteground can help you set up and host your website/blog quickly and easily.

About the Blogger Hi I am SB, a personal finance enthusiast with a career in software development. I am an immigrant to the USA since 2005, after being born and brought up in India. This 40 something technocrat lives and breathes personal finance whenever he gets time from the day job, job as a husband and a dad

Some links on this page may be affiliate links, if you make a purchase following the links, I may earn a commission. Read affiliate disclosure here
« A Beginners Guide to API Management Tools
What Not to Fix When Selling a House »

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.



Create your own blog in 20 minutes and $20

Personal Capital, a free tool to change your financial health today

I use and suggest Upstart, for your personal loan need

CreditKarma, a free tool to check your credit scorey

I use Coinbase, for my crypto investments

101 Cents at a Time

101 Ways to Earn Extra Money on the Side
201 Frugal and Perfect Birthday Gifts
101 Ways to Save Money Everyday
101 Ways to be Better and Successful at Work
101 Ways to Save Environment and Energy
101 Frugal and Romantic Anniversary Ideas
101 Low-Cost Men's Fashion Ideas
101 Personal Finance Tips
101 Ways to Reuse Household Stuff
101 Things to Do, When Nothing to Do
101 College Graduation Gift Ideas
100 Tips for Ecommerce Startup
101 Ways to Enjoy Indoor During Winter
101 Ways to Beat Procrastination

Popular Posts

Quick Cash - How to make $100 legally, in a day
Living well on less than $15,000 a Year
Top survey sites for side income
What to do when auto repair goes wrong
Where should I invest my money now?
20 Ways to be productive and happy at work
51 Ways to get out of debt
Be a better person in 15 days, 15 ways
Income ideas for retirees and senior citizens
51 side jobs for college students
Urgently need a large amount of money?
Should I buy or should I rent?
Best Personal loan providers
25 Ways to save environment
25 DIY car repairs to save money
How to decorate office cubicle
How to show your wife you care
50 Financial Rules for Success
51 Frugal weekend family activity ideas
Become Rich By Saving 1 Hour Of Daily Wage
How much do I need to save for retirement?
How to negotiate your salary

Follow us on FaceBook

About Author

SB

Blogger by choice and IT manager by profession. Finance is my passion and gardening is my greatest satisfaction. Born in India, settled in US, Husband and a father. I created this blog in 2011 with a vision to help others. Thanks for your patronage. More info on my "about" page.

View all posts


Subscribe

Join our community of 5000+ subscribers to increase net worth and build wealth

Advertisements

Personal Stories

How I got a new HP computer replaced
Was COVID circulating in USA in fall of 2019?
How my credit score went up 800+
Why I didn’t invest in Bitcoins
How I controlled impulses to buy things
Why this blog is named One Cent at a Time

Subscribe via Email

Site Disclaimer

Disclosure of Material Connection: Some of the links in this web site are “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. Regardless, I only recommend products or services I use personally and believe will add value to my readers. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”
Read full Affiliate disclosure


One Cent at a Time is published by SB. The opinions expressed herein by him are his own and not those of his employer or anyone else. All content on One Cent at a Time is for entertainment purposes only. By reading this blog, you agree that SB and/or One Cent at a Time is not responsible for any actions taken after reading this blog. For the full disclaimer, click here .

Major Media Mention

One Cent at a Time Media Appearances

Copyright © 2023 One Cent At A Time · Designed by Nuts and Bolts Media