Get your will written for free
During the month of March over-55s are being given the opportunity to have their wills written or updated free of charge.
To apply, over-55s need to visit freewillsmonth.org.uk. By entering your postcode into the website it is possible to find out if there any participating solicitors in your area. There are only a limited number of appointments available and they are distributed on a first come, first served basis, so if you are interested it is important to register as soon as you can.
The initiative is supported by a range of charities including Age UK, Blue Cross, Mind, Mencap and the British Heart Foundation. These charities rely on legacies for as much as half of their income, but there is no obligation to leave a bequest.
According to Aegon, over half (55%) of people aged 45 or over have not carried out any inheritance planning. But fail to create a will and your estate will be divvied up according to intestacy laws, which means it may not go to who you had in mind.
Kate Smith, head of pensions at Aegon UK says: “While many of us don’t like to think about what will happen when we pass away, it’s clear that people aren’t taking the necessary steps to ensure that their wealth, or loved ones, are protected. Free Wills month is a great prompt for people to think about and discuss their financial affairs with those closest to them.”
Everything you own: all your assets (property, cars, investments, savings, insurance payouts, artwork, furniture etc) minus any liabilities (debts, current bills, payments still owed on assets like cars and houses, credit card balances and other outstanding loans). When you’re alive this is called your wealth; when you’re dead, it becomes your estate.