A recent survey by Sun Life Financial has been reported in the media that the cost of dying has risen by some £400 in the last year.
As mortality rates rise, planning for death is not always at the forefront of people’s minds. However, taking some steps now will considerably ease the burden for those left behind as they sort out the funeral and deal with the estate administration.
Making a will is one of the most important steps in ensuring that matters are handled as you would like them to be following your death. In reviewing your will provisions you can consider your choice of funeral and how the cost will be met from the estate. It would also give you the opportunity to put your financial papers in order and to consider your own tax and estate planning, ensuring your family is provided for.
If you do not have a will your estate will be dealt with and distributed under the intestacy rules and may end up in the hands of unintended beneficiaries. By making a will you can therefore ensure that you choose who will act on your behalf in sorting out your estate and you can determine who will ultimately inherit your estate.
Many people put off making a will for a number of different reasons, but by doing so they can mitigate the length and cost to sort out their affairs.
For advice on issues relating to wills, estate planning and probate contact Helen Gowin in our Private Client team on 01260 28 2351.