Joint/mutual wills are seldom drawn up nowadays Joint/mutual wills create a number of difficulties due to inflexibility ‘Mirror wills’ tend to be preferred Firstly, it’s important to state that you DO BOTH NEED wills when married. The answer to the question posed in the title, is simply “no” this needn’t be a joint/mutual will. …
HOW OFTEN DO I NEED TO UPDATE MY WILL?
Any time your financial situation changes significantly. When your family situation changes. Every 5 years irrespective of personal circumstances. The first thing to be aware of is that there is no expiration date on a Will. If a Will has been validly made 10, 15, 30 or 50 years ago, it is still valid, …
Are prepaid funeral plans worth it?
Are prepaid funeral plans worth it? Short answer: yes, they are. But that doesn’t tell you anything so let me explain. In 2011 an average cost of a funeral was £2971 and in 2020 it was £4163, do the sums, a 40% increase. I don’t know how old you are but think about what it …
Who needs a Will?
WHO NEEDS A WILL? Anyone who owns a home Anyone with children Anyone who does not wish their assets to end up with the Crown It is therefore surprising that an awful lot of us sail through life without a will and seldom give it thought! It is often only when we experience: illness, …
Are prepaid funeral plans safe?
Are prepaid funeral plans safe? When you take out a prepaid funeral plan you are doing just that, paying money upfront for your funeral. Mostly people take out these plans so that their family don’t have to pay for their funeral and make all the arrangements. It’s great they say, pay for your funeral at …
Prepaid Funeral Plans Pros and Cons
Prepaid Funeral Plans Pros and Cons – The cost of a funeral is rising much faster than inflation. Between 2011 and 2020 an average cost of a funeral increased from £2971 to £4163, a staggering 40% rise. What is it going to be in 5, 10 or 15 years? Some people have savings plans or …
WHAT STEPS TO TAKE IF A LOVED ONE DIES
When a loved one dies, whatever the circumstances, it has a profound effect on close friends and family. Naturally feelings of sadness and shock can be overwhelming and sometimes the need to communicate with someone close is the first reaction, to share the grief and get emotional support. However, there are procedures that need to …
AT WHAT AGE SHOULD I GET A WILL WRITTEN & WHY?
As long as you have mental capacity, from the age of 18. As soon as you have valued assets and/or people you care about is probably the right time to write a Will. If you don’t have a Will, assets may pass to the Crown. You can use a Will to prevent your assets being …
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WHY IS ESTATE PLANNING IMPORTANT?
Accommodate loved ones, financially, when you’re gone Appoint guardians Minimise conflict It is not difficult to understand or appreciate why Estate Planning is so important to most of us. After all you are dealing with your total estate, which over your lifetime you have worked hard to accumulate. You are also dealing with the …
Pre-Paid Funeral Plan Costs
Funeral costs are the first thing to come out of your estate after you die, and can significantly reduce the amount you leave. Their organisation may also place undue pressure on those left behind. PRICE: The average cost of a funeral today is £5,000-£6,000. But critically the average annual growth in the cost of a …