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Planning Ahead to Help Your Loved Ones
Dying Matters Week is taking place from 14th – 20th May this year, and to mark the occasion Royal London published new research that highlights the top five tasks people should carry out now to help their loved ones after they pass away.
These tasks are:
- Write a will, so that the right people inherit your estate. Royal London research shows that three in five adults (60%) don’t have a will, and a quarter (26%) of those are aged 55 and above. It’s especially important for cohabitating couples to have a will, as the surviving partner does not automatically inherit any estate or possessions left behind.
- Think about care of children. If you have children it’s important to decide on guardians and name them in your will, but three in five (58%) parents with children under-18 haven’t chosen guardians should they die.
- Write a When I’m Gone List, which pulls together all your personal and financial information into one simple document.
- Make a plan to pay for your funeral. Royal London’s research shows that the average cost of a funeral is around £3,800, with one in six people (16%) saying they struggled with the cost. Having a plan in place to pay for your funeral will mean your family won’t have to find several thousand pounds at a difficult time.
- Have a conversation with your family to remove a great deal of uncertainty for them at a difficult time. According to Royal London, two in five (41%) of those who had to arrange a funeral were not left any instructions from the deceased.
For expert legal advice on these issues then contact our specialist private client lawyers today.