Caring for those left behind

It’s taken me a few months to write about the loss of my darling mum, Pat. We lived together since my son, Xander, 15, was born.

To Xander, Granny was like another parent but better – her only job was to love, laugh and share the contents of her snack draw.

To me she was a mum, but also my best friend and, in a lot of ways, a partner. You see, in 2008 Mum and I bought a house together. We shared the mortgage, bills and expenses, and weathered life’s ups and downs side by side.

She was there to help me raise Xander and I was there to look after her during her many years of poor health. We were a team.

As we now navigate our grief, there’s also matters of Mum’s estate to work through, and I learned some valuable lessons about preparing for the future.

I know Mum would want me to share

these insights because, to her, nothing was more important than caring for family.

LIFE INSURANCE

When we bought our house, Mum and I both made sure we had life insurance so whoever was left behind could pay off the mortgage.

When Mum was forced to medically retire a few years later, we discovered that her life insurance linked to her superannuation ended when her super was paid out.

Make sure you read your Product Disclosure Statement so you understand your policy.

FUNERAL INSURANCE

With Mum’s poor health, she couldn’t get another life insurance policy, but she was able to get funeral insurance, which relieved some financial pressure during a really difficult time.

Mum only wanted a memorial service so just needed basic cover.

It’s important to get quotes on the kind of funeral you want, so you know what payout your next of kin will need to be able to fulfil your wishes.

YOUR WILL

A will is essential. Mum and I both had ours drawn up by our solicitor when we bought the house, because our situation was unique. But if you have a basic, uncomplicated estate, there are several DIY will kits on the market.

Pensioners may also be eligible for discounts, so check with your state’s Public

Trustee office. Find out more at moneysmart.gov.au and don’t forget to keep your will up to date, especially after major life changes such as marriage or divorce.