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What would happen if your circumstances changed tomorrow?

What would happen if your circumstances changed tomorrow? What would happen if your spouse/partner died tomorrow? What would it mean for you in terms of day-to-day living? Would you be able to do simple things……like buy food?


There are many questions you may not know the answer to, but are worth giving some attention to.


Your Assets

If your spouse or partner dies (before you do), any assets that were not jointly owned by yourself and your spouse/partner – i.e. your name was not on the applicable ownership documents – will immediately form part of the deceased’s estate and so be beyond your immediate reach. These include (but may not be limited to…):

  • Bank accounts

  • Investments

  • Insurance policies

  • Real estate


Your Family Home

If the family home was not owned jointly by you and your spouse/partner, then if spouse/partner dies before you, the property will not automatically become yours. This can create some or all of the following issues:

  • The insurance company might cancel the House Insurance policy.

  • You may not be able to get insurance with another insurance company.

  • If the family home is not left to you in the deceased’s Will, you could (depending on the facts of your situation) find yourself without a roof over your head.

  • Even if the family home is left to you in the Will, it could be six months or more before it can be legally transferred to you.


Paying Bills

Do you know how to pay for your utility bills? And do you have authority to speak to your utility providers? If your electricity account doesn’t have your name on it, the electricity company may not be willing to speak with you concerning the account.

If you need advice, give us a call 03 477 8080.



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