Do You Have A Will In Place?
Many people throughout the world will go though their lives not thinking of the consequences if they were to have a fatal accident or when they eventually die. A will is one of the more embarrassing financial instruments to bring into a conversation without seeming heartless and uncaring, but it is something which needs to be considered, something which is essential and should be part of any financial planning.
The extra problems and costs associated with someone who dies intestate, i.e. without a formal will, can be enormous, lead to families breaking up and possibly see all assets go to the government if no immediate family can be found. It does seem heartless, it does seem very cold but a will is a necessity if you are going to look after your family, friends, charities, etc. Extra grief in times of death should be avoided as much as possible and the situation addressed without delay.
The inheritances which the government receive from those with no immediate family are substantial although they are very rarely publicised. You work, pay your taxes, surely the last thing you would want is for the authorities to decide how your money is spent?
Share this..
Related stories
Is competition reducing in the UK mortgage market?
The Council of Mortgage Lenders (CML) has today confirmed that UK mortgage lending fell by 28% in the last year. However it is the revelation that the market is dominated by fewer mortgage lenders than just one year ago which is causing some concern amongst consumer groups and homeowners.
The top six mortgage lenders in the UK accounted for over 78% of new business in 2008 which is...
UK trade gap widens as exporters suffer
The UK trade deficit increased during June to £6.5 billion against £6.2 billion in May, a move which was unexpected. Many people had forecast the gap to remain fairly stable at around £6.2 and even though exports rose by 1.4%, imports rose by a larger 2.2%. The UK currency had initially suffered a massive decline against the likes of the dollar and the Euro in the early days of the recession bu...
Read MoreEnergy prices pushed up by regulation
11/08/2014 Energy prices could actually be getting pushed up by aggressive regulation of the market, according to a letter that has been sent to the Competition and Markets Authority (CMA). The letter which was written by a group of former energy regulators, claimed that rising energy costs and a lack of competition could be a result of over-regulation. The group who made these claims inc...
Read MoreWho will cover the local authority budget shortfalls?
While the subject of savers has been very much placed on the backburner by the UK government, it may well be about to make a reappearance in dramatic fashion. The Local Government Association (LGA) has stepped into the breach to comment upon the Bank of England's decision to reduce UK base rates to 1% and the impact this will have on council taxes. The news, while not totally unexpected, will shoc...
Read MoreOne in ten pensioners have been targeted by fraudsters
11/02/2015 One in ten pensioners in the UK have been the victim of financial scams during their retirement, research from MetLife shows. Insurance company Metlife found from a nationwide study that 9% of retirees have been targeted by financial fraudsters or have fallen victim to financial scams since they stopped work. Those in certain parts of the country are more likely to be targeted to...
Read More