I have always told people that if they have even one financial dependant, they need life insurance. But how can you be sure that your beneficiaries will actually get the money (amongst other things) if you die without a will?
A recent study showed that more than two-thirds of adults in the UK have not written a will and have not discussed what happens after their death with their loved ones. The charity-sponsored study found out that 70% of respondents have not discussed their death wishes with a loved one and almost as many are unaware that they can plan where they want to die (home, hospice, etc.). Heidi Travis of Sue Ryder charity said: “Many of us plan for weddings and births, holidays and careers, yet we shy away from planning for our death”.
If you find yourself on the wrong side of this study, I have good news for you. Did you know that March is Free Wills Month? This means you no longer have an excuse for not getting your legacy sorted.
A number of solicitors have signed up to the scheme of helping create your will for free and in return, you will be asked to leave some cash to a charity such as MIND, British Heart Foundation, NSPCC, etc. Also, you need to be 55 or older to apply.
Money Management Coach
Author of the newly-published book:"Winning Together"
(A Couple's Guide to Success With Money and Marriage)