Many people acquire assets across popular European destinations, such as holiday homes and bank accounts. It’s crucial to ensure that these assets are accounted for during the estate planning process. However, there is often a great deal of confusion around how to incorporate these assets into an estate plan to protect loved ones in the event of death.

For many families, discussions about death are difficult to initiate. For those who do manage to have the conversation, it’s often an uncomfortable one to have, as it can be difficult to envisage how life will be without a loved one. Unfortunately, it's inevitable that we will all experience a loss at some point during our lifetime, and in many cases, this happens without previous discussion and little planning in place, which ultimately makes a difficult time even more challenging.

As we shop, many of us collect loyalty points from various companies, and throughout a lifetime this can amount to a substantial value. However, many of these points will remain unclaimed.

For someone who has never dealt with a deceased person’s affairs, the legal jargon and complicated processes can be hard to digest; the tasks involved are unlikely to be previously encountered and come with a great deal of legal and financial responsibility. Unfortunately, this can make the difficult time of coming to terms with the death of a loved one even harder.

When coming to terms with the death of a loved one, the grieving period can be disrupted or worsened by issues with their Will, inheritance disputes, or other complications. These difficulties are often highlighted by high-profile probate and estate administration cases. This blog explores lessons that can be drawn from prominent celebrity deaths and the complexities that arose upon their passing.

As many aspects of our lives move to the digital world, it’s unsurprising that the task of dealing with a loved one’s digital assets when they pass away is becoming increasingly common. A digital asset that is frequently making the headlines due to its growing popularity is cryptocurrency. Due to cryptocurrency only recently emerging (in the first decade of the twenty-first century), many are still unaware of what cryptocurrency is and may simply overlook the stage of dealing with cryptoassets during estate administration.

Death remains to be a topic that many of us avoid thinking about and do not wish to discuss with our loved ones, which can sometimes lead to absent or ineffective estate planning. According to the ‘UK Wills & Probate Market 2020: Consumer Research Report’, less than 4 in 10 adults in the UK have made a Will, despite predictions that the COVID-19 pandemic would encourage more people to plan for the future.

Death is not a subject that we like to consider or discuss, however, planning ahead is more important than ever to ensure your affairs are in order before your passing. Regardless of your age, wealth, health or status, planning for your future can guarantee your wishes are followed and ensure your loved ones get the full benefit of your legacy. Taking the necessary steps and precautions during your lifetime can also eliminate any unnecessary stress that your loved ones may face when administering your estate when the times comes.

The Argentine football icon, Diego Maradona, passed away in November after suffering a heart attack at the age of 60. Maradona’s passing has caused speculation about his wealth and complicated financial legacy, as it’s been suspected that he passed away without a Will.