Majority of People Don't Have Wills
The BBC reports today on a survey by HSBC showing that two-thirds of UK parents do not have a Will. Dying without have made a Will (‘intestate’) brings into effect a ‘Statutory will’ – the devolution of your estate is out of your control and may not accord with your intentions. For details please refer to our main site. It does not cost much to make a Will and give yourself (and your family) peace of mind – so why leave it? See ourCharity Wills Promotion.
The same report shows that 48% of couples with children do not have life assurance! Protection for family is not expensive so why not get some basic cover in place? See ourpersonal protection page.
Thirdly, and perhaps least surprisingly, the study also shows that adults with children are less likely to have funds set aside for their retirement than childless adults. Children never were a cheap option. Nevertheless, it is clear that the changing demographics make it essential to plan for retirement and the sooner this is done, the less it costs. See our pensions page.
One thing the report does not mention is how banks charge for taking executorship appointments. Here is an example involving … well … HSBC actually!