How to prepare your estate for your loved ones

Of all financial planning, getting your estate in order is perhaps the area most procrastinate on. It’s a widespread mistake and in many ways is understandable.

“I’ll deal with it when I retire” often becomes I’ll sort it when I’m 70, 70 becomes 80 and so forth.

Putting the fundamentals in place will give you peace of mind and spare loved ones unnecessary stress when you pass away. You’ll also be in a better position to start thinking about any life admin you might need to put in place.

Read on for some practical steps you can take to prepare your estate.

Making a will

Two-thirds of the UK’s adult population have not made a will, which means that when they die their money could end up going to the Crown.

The only way to ensure that your money goes instead to the people you want to receive it is to make a will. Then you’ll want to review it regularly, or at least following any major changes in your life, such as divorce, death of a family member, having gran