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Many people are still unaware that they can safely and cost-effectively pre-pay for their own funeral during their lifetime. Funeral costs have consistently risen at rates well above inflation, so it can make good sense to sacrifice part of your low-yielding bank or building society savings now and secure YOUR choice of funeral at today’s prices. Even if you have allocated savings on a special account, accessing the money after your death may be difficult until probate is granted. By choosing a pre-paid funeral plan, your relatives or executors would be spared the embarrassment of being asked to pay several…

In one word – ‘Yes’, and all too often it does. Many people are unaware how easily the above scenario can occur. However, if your spouse or partner was to re-marry or have more children after your death it will happen unless you take steps to protect your children’s inheritance. Consider the following: Mr and Mrs Jones are married with two children. Mr Jones dies and Mrs Jones acquires all their assets. Time passes and Mrs Jones re-marries to a Mr Smith. Unfortunately after 10 years of marriage Mrs Jones passes away. Mr Smith now inherits all of Mr and…

Parents of extended families that include step and adopted children are almost twice as likely as those with natural children to put off drawing up a will or revising its contents, according to a study by Investec Wealth & Investment. “20% of parents with natural born sons and daughters have avoided creating or amending a will because they are unable to decide how to divide their assets amongst the family and many parents fear the outcome will upset their children. However this figure rises to 35% and 47% among parents with stepchildren and adopted children respectively.“ Although I am aware…

If you’re not married to your partner (or have not formed a civil partnership) and you die before you make a will, your partner will not automatically inherit anything from you. It doesn’t matter how long you were together. It doesn’t matter how committed you were. Instead, the law dictates that everything will go to your nearest blood relative, regardless of your wishes. In fact, if you don’t leave a Will, the Crown is more likely to automatically inherit from you than your partner! The myth of “Common Law Marriage”. One in six couples in Britain live together without getting…

This month unbiased.co.uk’s research established that 58% of the adult population still do not have a Will.* There were various regional variations as we can see below: Region With a will Without a will South East 49% 49% East of England 46% 53% Yorks & Humber 44% 55% West Midlands 42% 58% South West 41% 58% London 40% 60% Scotland 40% 60% East Midlands 39% 60% North West 38% 61% Wales 38% 60% Northern Ireland 32% 65% North East 30% 70%  The table shows the % of UK adults with/without a will by region – not all figures add up…

As a nation of animal lovers it is a travesty that so many cats, dogs and other pets are needlessly overlooked and left homeless when their owners pass away.  We have all seen the stories of celebrities and the rich who leave their mansion or a huge amount of cash to their pets. Alexander McQueen left £50,000 for the care of his dogs; Leonna Helmsley a wealthy American Business woman, left her dog called Trouble $12 million dollars! Whilst these are relatively extreme examples they do highlight the need to provide for our pets on going care when we die.…

“By 2025, more than 1 million people in the UK will have dementia, according to the Alzheimer’s Society. One in five people over 85 already suffers from it, with rates significantly higher among women than men. Handling your financial affairs becomes virtually impossible – which is why charities who care for the elderly recommend everyone plans ahead to ease the potential burden on our relatives.” A recent article in the Guardian written by Rebecca Ley was a stark reminder as to why it is so important that proposed Attorneys are made fully aware of their potential role. Lasting Power of…

The current political hot potato is Social Care funding. The Independent reported on 7th July 2012 that “Decisions on how to fund long-term care for the elderly will not be taken for up to two years,” The article goes on to say that “the Government admitted, amid Labour accusations that it had abandoned cross-party talks. Ministers will next week publish a progress report which backs the idea of imposing a cap on the total amount an individual should pay for care costs. But a source conceded that there was ‘not any money available at the moment’, and that no firm decisions…