Discussing what will happen after you die is often a taboo subject, however it’s wise to start planning as soon as possible.
Around £1 billion was left ownerless last year due to people dying without a will in place, and while it can be a hard topic to bring up with loved ones, planning your estate at the soonest opportunity can save your family stress and, in some cases, a lot of money.
Managing costs
The average cost of funerals rose by 3.9% in the year 2014-2015, with the estimated average cost of a funeral in the UK standing at £3,600. There are funeral subsidies available for those on low incomes (which has been frozen at £700 since 2003), however with the average funeral costs much higher than this, it can be a struggle for loved ones to find the extra money.
Planning in Advance
Another benefit of writing a will is that you can pre-plan your funeral to ensure that your wishes are carried out upon your death. The sooner you do this, the more time you have to work out smaller details and check that your wishes are accurately represented.
If you would like help planning your estate or writing you will, please get in touch and we will be happy to advise.
Creating a will can seem intimidating and it’s normal not to know where to start. Between the legal aspects and the forward planning, making decisions for when you’re not around can be difficult.
That’s why we have created the 5 things you need to know about creating your will.