Navigating life’s final chapter: The updated guide to preparing your essential ‘Red’ File
24 Apr 2024
The updated guide to preparing your essential ‘Red’ File
Death remains one of life’s certainties, yet it’s often the least discussed and most daunting to prepare for.
At Legal&Tax, we advocate for not only embracing the inevitability of our end but also for taking thoughtful steps to lessen the administrative and emotional load on those we leave behind. Updating our previous guidance, we delve deeper into why every South African should maintain a ‘Red file’ and what new documents and considerations should be included in this all-important folder.
The essence of a ‘Red’ File
The ‘Red’ file guides your loved ones through the often-complex process of honouring your life, settling your estate, and beginning their journey of grief and healing with one less burden. This file, whether stored digitally on the cloud, in a secure physical location, or ideally both so that you have a backup for any circumstance, should be comprehensive, containing legal, financial, digital, and personal documents critical for managing your affairs after you’ve passed.
Funeral cover for peace of mind
The first thing your family will need to deal with following your passing is your funeral, so make sure that the first item in your red file contains the details of your Legal&Tax Funeral Cover. Integrating this information ensures that during the mourning period, your family faces one less financial worry. Legal&Tax’s Funeral Cover offers the financial support needed to cover funeral expenses, relieving your loved ones of this concern. Placing this policy in your file, alongside the necessary contact information for straightforward claims processing, highlights a well-rounded approach to end-of-life planning that merge practical preparedness with empathetic foresight.
Updated checklist for your ‘Red File’
Legal documents: Identification documents, your marriage certificate, vehicle registration, household deed, your last will and testament, and executor details.
Financial records: Insurance policies, bank details, a list of any accounts that need to be closed as well as any subscriptions that need to be cancelled (cell phone contracts etc) and explicit information on the Legal&Tax Funeral Cover to alleviate funeral costs.
Digital footprint: Access information for digital accounts and devices.
Personal instructions: Funeral arrangements including a list of people – and their contact details – you would like to be informed of your passing/funeral, care instructions for dependents and pets, and personal letters or recordings.
Final goodbyes: You can include a final farewell in the form of a letter, audio or video recording.
Organising and sharing your file
Opting for both digital and physical copies of your red file ensures its thorough accessibility. Sharing its existence and storage location with a trusted individual ensures that your preparations are acknowledged and can be acted upon when necessary. It also protects you against unforeseen events, for example a physical copy may be destroyed in a fire or flood, and a digital copy may be affected if the device you stored it on became infected by a malware (which is why it is advisable to upload the digital copy to a cloud based digital storage service)
Regular updates: Keeping it current
As life evolves, so should the contents of your file, ensuring it accurately reflects your latest circumstances, desires, and the up-to-date particulars of your Legal&Tax Funeral Cover.
Conclusion: A legacy of care and preparedness
Compiling a red file is an act of guarantees your wishes are honoured and your loved ones are looked after in your absence. With Legal&Tax by your side, incorporating our Funeral Cover, you provide more than just directives for the future; you offer peace of mind and financial assistance during life’s most challenging transitions.
With Legal&Tax, you’re not alone.
Speak to Legal&Tax if you need assistance with any of our Funeral Plans:
- WhatsApp +27 (71) 526 8527 – Type ‘Hi’ to start chatting
- Call 0860 587 587
- Email [email protected]
- SMS “Assist” to 3169
Article sourced from Legal&Tax.
See also:
- The administration of death
- Guidelines for updating your will in South Africa: Knowing when it’s time for a revision
- Five things to consider when drafting a will in South Africa
- Deceased estate administration – A lengthy process
