February 17, 2025
10 events that should prompt you to plan your affairs
The richness and unpredictability of life makes it exciting. It gives us moments of joy and success intermingled with losses and times of self-reflection. These experiences make us who we are. We cherish them, often saying we would not change a thing about our past.
We can prepare better for uncertainties and reduce any associated anxiety and stress. This blog guides you in making decisions and planning your legacy through the pioneering legacy and estate planning platform, SharedAffairs.
Here are 10 events (plus a bonus one) that should prompt you to prepare your affairs:
1. Getting Married
Congratulations! You’re on your way to sharing your life with someone you have grown to love. With all the excitement of getting married, it’s easy to put planning activities on the backburner. Planning your affairs at this stage ensures financial security and peace of mind for both of you. Increasingly, as some couples put-off marriage or decide not to get married and stay as partners, then this planning is essential for them too.
One of the most important activities is to update documents such as your will, life insurance policies and financial plans, naming your spouse as a beneficiary, executor or even decision-maker. You can create and update your will using SharedAffairs as often as you need. You can also use SharedAffairs to organise digital copies of these important documents in its secure online folders that you can assign to your spouse (or other trusted contacts) for accessibility. These folders can also be locked by you to be accessible only if you are no longer around so that you can keep your information private until the time it is required by your loved ones.
You can use SharedAffairs to share your plans with trusted loved ones to ensure a clear understanding of your affairs and plans. Discussing these topics openly, strengthens your relationship, reduces future stress, and ensures your shared wishes are respected.
Before diving into comparisons, we must learn what legacy management is and how one can secure their sensitive information once they are gone from this world.
2. Buying a house
Your home will usually be one of the most valuable assets you will own. Legal and financial experts advise that you create or update your will when you become a home-owner. This is easily done using SharedAffairs and you can use the Executor Pack to ensure that your trusted people, who may deal with your estate, have all the documents and information ready when they need it, thus reducing legal costs and delays in transferring your belongings to those loved ones that you wish to inherit from you.
Take advantage of the SharedAffairs secure items storage and money-matters wizard to organise your title deeds, any property agreements and mortgage arrangements. This will give you a head start in ensuring your information is secure, private and easily passed on when it needs to be.
3. Creating a financial plan
Achieving your financial goals, such as building a passive income stream to supplement your earnings, or even to retire early, is a worthwhile challenge that many people have taken on to avoid the trappings of the rat race and the employee treadmill. Once you have decided on the milestones along your journey to financial freedom, if you have a partner or dependents, it is definitely worth sharing your plans and any achievements so that your hard work has value for them in case anything happens to you.
Whilst you can prepare the transfer of your finances to minimise losses to your family through inheritance tax or unnecessary legal fees, they must be aware of what you have prepared so that they can benefit from your planning. You can use SharedAffairs to describe your financial plans and provide details of any life assurance policies so that they can be accessed by the people you choose, but only in the event that you are no longer around. Thus you can keep your private information secret until you need it to be used by them.
This ensures a smoother, worry-free transition for your family. By taking proactive steps, you not only protect your assets but also reduce potential legal complexities.
Take advantage of the SharedAffairs secure items storage and money-matters wizard to organise your title deeds, any property agreements and mortgage arrangements. This will give you a head start in ensuring your information is secure, private and easily passed on when it needs to be.
4. Having children
Welcoming a child into the world is a truly joyous occasion. Planning ahead safeguards their future and ensures they are cared for no matter what. SharedAffairs creates your will for you, helps you appoint an executor, plan guardianship for your children, saves your will (or an existing will you prepared elsewhere), providing peace of mind and security for your loved ones.
You don’t need to do everything in one go, just make a start using the Will-writing smart app in SharedAffairs, research anything you are unsure of, add and amend whatever you decide and eventually, you’ll have a legally-enforceable, solicitor-approved will. This is one of the steps most people put off due to not knowing how to start, who to consult, how much it will cost or not knowing what information is needed. SharedAffairs makes the whole process transparent to you, easy to understand and guides you through the steps. It gives you control to update your will anytime and the price is upfront for you.
You will find you need access to your children’s birth certificate, passport and/or medical records at times when you don’t have them to hand. Use SharedAffairs items to store digital copies of these so that you have them to hand wherever you are. You can also place reminders on renewing any items (such as the passport) so that you are always informed and prepared because life does become busier with children and we, at SharedAffairs, make sure that paperwork is one less thing you don’t have to worry about.
Focus on enjoying every precious moment with your family while knowing their future is secure and well-prepared with SharedAffairs.
5. Starting a new business
Launching a new enterprise is an exciting journey, and up-front legacy planning ensures its continued success. By identifying key stakeholders, creating trusts, and establishing a clear governance framework, you can protect your business and create a foundation for future growth. SharedAffairs gives you the ability to safeguard your hard work and leave your business in the right hands. Whilst you may store essential business documents in your business filing systems, there is information that needs to be kept private for your eyes only unless something happens to you.
SharedAffairs Digital Vaults are perfect for storing any digital images, documents, instructions, codes or passwords as well as recording a personal video for those you leave the information to. Your private thoughts and plans, that you want to pass on to a select few, can be safely stored, updated as you go along and will be accessible to them only if something happens to you.
With SharedAffairs, you give clarity to the people to whom you will entrust your hard work and legacy.
You don’t need to do everything in one go, just make a start using the Will-writing smart app in SharedAffairs, research anything you are unsure of, add and amend whatever you decide and eventually, you’ll have a legally-enforceable, solicitor-approved will. This is one of the steps most people put off due to not knowing how to start, who to consult, how much it will cost or not knowing what information is needed. SharedAffairs makes the whole process transparent to you, easy to understand and guides you through the steps. It gives you control to update your will anytime and the price is upfront for you.
You will find you need access to your children’s birth certificate, passport and/or medical records at times when you don’t have them to hand. Use SharedAffairs items to store digital copies of these so that you have them to hand wherever you are. You can also place reminders on renewing any items (such as the passport) so that you are always informed and prepared because life does become busier with children and we, at SharedAffairs, make sure that paperwork is one less thing you don’t have to worry about.
Focus on enjoying every precious moment with your family while knowing their future is secure and well-prepared with SharedAffairs.
6. Helping elderly manage their legacy
Our parents, grandparents and our elderly friends sometimes get to an age where they find it hard to know what to write down essential information to pass on in case anything happens to them. Some of them keep that information close to their chest. Often they just need their information organised for them and be shown what they should do.
You can help them to start their legacy planning by setting up their account or by doing it for them. It is an opportunity to show care and support them at what can be a difficult time of their life. By assisting them with their plans, you ensure their wishes are respected, and they can enjoy peace of mind knowing everything is in good hands. Make SharedAffairs a trusted partner for your elders and help them secure their legacy.
You don’t need to do everything in one go, just make a start using the Will-writing smart app in SharedAffairs, research anything you are unsure of, add and amend whatever you decide and eventually, you’ll have a legally-enforceable, solicitor-approved will. This is one of the steps most people put off due to not knowing how to start, who to consult, how much it will cost or not knowing what information is needed. SharedAffairs makes the whole process transparent to you, easy to understand and guides you through the steps. It gives you control to update your will anytime and the price is upfront for you.
You will find you need access to your children’s birth certificate, passport and/or medical records at times when you don’t have them to hand. Use SharedAffairs items to store digital copies of these so that you have them to hand wherever you are. You can also place reminders on renewing any items (such as the passport) so that you are always informed and prepared because life does become busier with children and we, at SharedAffairs, make sure that paperwork is one less thing you don’t have to worry about.
Focus on enjoying every precious moment with your family while knowing their future is secure and well-prepared with SharedAffairs.
7. Becoming a philanthropist
Philanthropy allows you to make a lasting difference in areas close to your heart, such as orphanages, education or healthcare. Thoughtful planning ensures your contributions continue to create positive change for the society in the shape of charities even after you’re gone.
Your SharedAffairs will also help you leave whatever you wish to a charity (or many) that you choose. Inspire future generations by partnering with SharedAffairs and become a pioneer in spreading kindness through leaving instructions to continue your work using the value from your estate.
8. Retiring
Retirement is a time of huge change. You could lose all the enforced routine and discipline that came from employment or your work. It can also be a time of newfound freedom and reflection. Ideally, you will have planned for retirement and have plans in place. Once retired, you have the perfect opportunity to create or refine your legacy, ensuring your loved ones are cared for and your wishes are honored. Use the different features of SharedAffairs to capture your decisions now that you have time. Ensure those decisions and wishes are known to your selected people, at a time you choose and in case anything happens to you.
Your new status gives you a different perspective on life, its priorities, your relationships and the future. Updating (or making) your plans now can lead to a fulfilling and worry-free retirement. It’s the perfect way to turn your life’s hard work into lasting memories and support for those you care about.
9. Becoming single
The passing away of a spouse or partner, or the aftermath of a divorce can be both emotionally draining and practically challenging, full of stress associated with change and mixed feelings. During such life transitions, revisiting your plans becomes essential. This may involve updating your will, modifying beneficiary designations on policies, and ensuring your financial arrangements reflect your new circumstances.
With everything neatly arranged, using SharedAffairs, you can make sure your assets are distributed according to your new wishes, removing the stress of handling paperwork. This can be a way to kick-start this next phase of your life with better control of your information and re-prioritised future plans.
10. Discovering a health condition
Facing an unexpected health condition can be a life-altering experience, but it’s also an opportunity to take proactive steps to protect your loved ones. By organising essential documents, updating plans, and sharing key information, you can ease the burden on your family during difficult times. Use SharedAffairs to ensure your loved ones have the access to whatever they need in your absence.
This can also be a time to record your thoughts for those you might leave behind in case the worst happens. Whilst hoping you recover, just the act of recording videos for your loved ones using the SharedAffairs Digital Vaults, can lift the load off your shoulders. This often helps with knowing what you really want to say and pass on without anyone knowing unless you really are no longer around. Messages of love, passing on secrets and just recording a video diary for them, helps you and them in ways that you cannot imagine.
11. Planning your funeral
This blog is titled “Ten events…” but how can we leave it out of funeral planning? So this one’s a bonus.
Planning your funeral isn’t just about saying goodbye, it’s an important step in securing your legacy. Through SharedAffairs, you have the tools and guidance to ensure that your final ceremony reflects your values, preferences, and vision for your legacy. This thoughtful act allows you to leave behind a clear message about who you were and the life you lived, all while relieving your loved ones from having to make those difficult decisions without you there.
Research shows that families overspend on funerals when the emotional hooks are pulled by funeral professionals or wider families to ensure their loved one is given a great send off. Even if they know it’s not necessary, they have nothing to prove they are doing what you wanted so why not make their life easy. Using the SharedAffairs Funeral Wishes feature, will reduce your funeral costs for your family just by them not having to overspend in the absence of knowing what you would have wanted
Apart from the above 11 events, there are many other times in life to prepare information for safekeeping and passing on, such as simply storing your phone unlock password (or pattern) in the Password Vault as and when you change it. This blog covers the main events only. Why not use the free SharedAffairs account to see how you can benefit from the free features today?