Estate planning isn’t just for retirees or the ultra-wealthy, it’s for you.
Here’s the reality: Over half of working-age adults in the UK don’t have a will. That means if something unexpected happens, the law, not you, decides where your assets go. Unmarried partners? Stepchildren? Digital assets like crypto or online businesses? They could be left out completely.
At the same time, we’re seeing the biggest transfer of wealth in history, £1.2 trillion is set to pass from baby boomers to younger generations in the next decade. But without a solid plan, a chunk of that could be lost to taxes, legal fees, or family disputes.
Common Myths About Estate Planning (and Why They’re Wrong)🚫 “I’m too young to need one.”
✔️ Life is unpredictable. A simple will ensures your assets go to the people you choose.
🚫 “I don’t have enough assets.”
✔️ Whether it’s savings, property, or sentimental items, a will protects whatever you have. If you have kids, it’s even more crucial you can name guardians instead of leaving it to the courts.
🚫 “My family will know what to do.”
✔️ Even close families can end up in legal battles without a clear plan. A will eliminates uncertainty.
🚫 “I’ll do it later.”
✔️ Waiting means missing out on tax benefits and wealth protection strategies that could save your family money and stress.
✅ Make a Will – It’s easier and cheaper than you think.
✅ Set Up a Lasting Power of Attorney (LPA) – If something happens to you, someone you trust will handle your finances and medical decisions.
✅ Plan for Digital Assets – Your crypto, social media, and online businesses are real assets. Document what happens to them.
✅ Check Your Pension & Life Insurance Beneficiaries – Make sure your money goes to the right people.
✅ Talk to Your Family – The hardest part is starting the conversation, but it prevents misunderstandings later.
Financial advisers (like me!) and estate planners can help make this process simple and stress-free. The sooner you start, the more control you have over your future.
I am an Independent Financial and Mortgage Adviser and have worked in Financial Services for over 12 years. During my career I gained experience in assisting both individual and corporate clients.…
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