Mortality and Estate Planning

Few of us really want to face up to the fact that we won’t live forever.  Though some try to put off the inevitable by having themselves put in the deep freeze (well, a very expensive and technical version of a deep freeze!)

So let’s face up to reality and look at some of the things we should consider to protect ourselves and our families:

Financial Advice (some of our members may offer this).

1) If you have financial dependents, mortgages or debts, then you should consider life and critical illness insurance.

2) How long would you be paid if you were ill?  It is worth asking, and the answer may shock you.  Perhaps income protection insurance would keep things secure?

3) Will your retirement income be adequate to support your family when you retire?

Legal Advice (some of our members may offer this).

Everyone over 18 should have:

  1. A valid and regularly reviewed Last Will and Testament – after all, things change regularly. Tax, the Law and family circumstances all need to be carefully considered when drafting a Will.  We never know when our time is up.
  2. Lasting Powers of Attorney – everyone thinks their family will be able to look after them if they have a bad accident or serious illness which means they are unable to make their own decisions. They are sadly mistaken!  If Social Services (or Doctors) decide you are mentally unfit, they can strip you of your rights in a minute.  Appeal is through the Court of Protection, it is costly and it can take a year. Most of us will be in this situation at some time in our lives: it is just pot luck when.

The End Comes.

(All of our members can help offer independent advice here.)

No one knows when our time will be over, so why not contact one of our members to see how a prepaid funeral plan can:

  • Save financial stress on those left behind. It could be financially the wrong moment!
  • Prevent family arguments (they are really common, sadly.)
  • Pay for all or most of your funeral at today’s prices. Funeral cost inflation has been running many times higher than the rate of return on a normal savings account, so why not transfer some of your savings now?
  • Did you know that you can buy a plan for family or friends – or even employees?