This is a collaborative post.
Life, as they say, is for living. We won’t be around forever, and neither will the ones we love. It’s a sad fact of life, but one that should serve as a reminder to seize the day and make the most of every moment. This sentiment stings most when we lose a loved one.
However, out of sadness, happiness can emerge. Specifically, the death of a loved one can inspire us to seize opportunities. If someone’s passing also leads to a boost in your financial status, it can, and probably should, open doors. One door a lot of people aspire to open is travel. Statistics cited by Condor Ferries show that 25% of Americans considered taking a solo trip in 2023.
Don’t Waste Any Opportunities
Similar trends are observed around the world, which supports the idea that we’re a species that likes to explore. However, as much as some people want to travel, pulling the trigger isn’t easy. As well as stepping out of your comfort and logistics, the cost of traveling often stops people from booking a flight.
Costs can vary massively depending on where you travel to, where you stay, and how long you’re away. However, a breakdown of average costs on Indie Traveller suggests that you need to budget between $700 and $2,700 a month. While it’s not something we want to think about, the passing of a loved one could help you cover those costs. Let’s say you’ve been left a house.
The proceeds from selling that house could be the financial boost you need to travel. Of course, there are certain legal issues you’ll need to address before you can sell. For example, in the UK, a deceased person’s estate goes into probate, which essentially means permission from a court to distribute someone’s assets. So, if you’re selling a house in probate, it takes time for the court to clarify that everything is above board.
Use What’s Legally Yours
From there, the asset (i.e., the house) will be distributed to the lawful recipient. This can take up to 12 months. Then, if you are given probate, you may need to consider inheritance and/or capital gains tax. The point here is that receiving something in a person’s will doesn’t mean you can realize your dream of traveling straight away.
Processes need to be followed. However, the silver lining is that you have time on your side. It can take months, if not years, to plan the perfect trip. So, if you’ve been given the opportunity to travel through the unfortunate death of a loved one, use the proceeding time wisely. Think about where you want to travel, plan your route, get tips from other travelers, and set budgets for everything.
Then, once you’re free to use assets as you see fit, you’ll be ready for the trip of a lifetime. We don’t like talking about issues such as death, but it comes to all of us. The best way to ensure someone’s life isn’t in vain is to seize any opportunities you’re given. If that means selling the assets you’ve been left in someone’s will to fulfill your dream of travel, we say do it!