Tech firm, Biscuit Tin, has secured £300k in funding despite striking out on TV’s Dragon Den. Sales director Iain McKenna explains more about the firm and how people can make it easier for their loved ones when they pass away.
Life is full of uncertainty, but as Benjamin Franklin once wisely said: “In this world, nothing can be certain except death and taxes.” Whether we like to think about it or not, death is one of life’s realities. We will all die one day. However, given 100% of us pass away, very few people adequately prepare for their passing by organising their affairs in advance, so any potential confusion, conflict, or ambiguity is minimised for those loved ones left behind. This is even more surprising considering all other important life events – pregnancy and birth, marriage and home ownership are, in the main, meticulously planned to ensure they happen in the way we wish them to.
For those that are left behind, we can make sure we leave them with minimal stress and peace of mind following bereavement, which is already a very traumatic time and comes with a deep sense of grief and loss. For this reason, it is always better if final wishes are discussed in advance, and it is heartening to see that the Equity Release Council encourage this, although ultimately talking to family about post life wishes is a decision which must be made by the individual.
There are numerous things to consider when a loved one passes away, with significant amounts of life administration to deal with. Biscuit Tin aims to provide a solution to this problem, by providing a secure digital vault which can hold and safely store all life information in one place, which is then released to nominated loved ones in the event of death.
Biscuit Tin was created following the founder’s own experience of having to deal with her parents’ affairs after their passing, which was an administrative nightmare causing unnecessary stress at a time of deep grief. This experience gave founder Sheila Hogan the desire to make the end-of-life process much easier for others in this digital age, and Biscuit Tin was born.
Below are some areas to consider which will provide clarity at the time of a loved one’s passing and is information that can all be stored in a digital Biscuit Tin. Grief can be all-consuming so anything that can be done in advance to minimise further distress at a very difficult time should be embraced.
- Will – ensure that you have a current will and that your family are aware of where it is stored. It is worth noting that if you are not married or in a civil partnership, your partner will not automatically inherit anything unless it is detailed within your will.
- Power of Attorney – this is a legal document which allows you to appoint one or more people to help you make decisions, or to make decisions on your behalf, if you have an accident or an illness that renders you unable to do so at some point in the future. It is worth bearing in mind at this point that one person is diagnosed with dementia every three minutes in the UK, so arranging the necessary safeguards is advisable.
- Inheritance Planning – It is worth considering inheritance planning if you believe that your estate could be subject to inheritance tax. There are many ways to legally minimise the inheritance tax bill received by your loved ones after your death.
- Important documentation – Collate important documentation and communicate where this is stored. By having one complete list of your bank account numbers, utility providers, social media and online storage usernames and safety deposit box information, you will simplify the administration of closing them all down. It is not necessary to pass on passwords. The account numbers or usernames along with a copy of your death certificate will suffice. Please ensure that this list is safely stored.
- Provision of care – Consider ongoing provision of care for any dependants and communicate your wishes. It is important to obtain the agreement of the proposed carer and to use this opportunity to outline any specific wishes you have regarding the future care. Any plans that you make need to be detailed in your final wishes.
- Pets – as with the previous point, it is sensible to think about who would look after any pets you may have when you are no longer around to care for them. The SSPCA and RSPCA provide a ‘Forever care’ / ‘Home for Life’ service that can be organised in advance if you do not have any friends or family willing or able to help. This is a charitable service, and it might be worth considering leaving a gift in your will to the charity.
- Living Will – Consider writing a living will, also known as an Advance Decision, which allows you to express your wishes to refuse medical treatment in the future, even if it could lead to your death. It would only be used if there came a time when you were unable to make or communicate your own decisions. It is legally binding and needs to be communicated to your GP / medical team.
- Organ donation – You may wish to donate some or all of your organs once you pass away If this is your wish, then you need to communicate this intention.
- Funeral planning – many options exist regarding how your funeral will unfold. Do you wish to be buried or cremated? Would you like flowers or donations? Do you have a preference regarding hymns, readings or where the wake should be held? Do you have a favourite photo that you would like to be on the order of service? All these details can be planned in advance to ensure you receive the send off which is exactly to your wishes.
- Finally, it is important that you discuss all of the above with your loved ones or ensure that they know where to find all the relevant information.
Biscuit Tin has already partnered with the Scottish Building Society to take this innovative product to its members. If you are interested in a potential partnership with Biscuit Tin, making this valuable resource available to your members, please contact us via our website: www.biscuittin.co.uk.
- The views of contributors are not necessarily those of the Council.
