Self-employed workers tend to have lower levels of pension savings, and a greater reliance on the State Pension. Changes to thresholds may mean that some are at risk of losing their state pension.
Have you written your Will? According to a survey by Interactive Investor in 2019 only 1 in 5 UK adults have written a Will. This means that those who have not written a Will will have their money, property and possessions will be shared out according to the law when they die, rather than their wishes.
No one wants to think about what might happen when they’re no longer around. But making a Will and discussing it with your family can clarify your plans and help family members prepare for the future, particularly younger generations.
Do you have a Will?
If you don’t have a Will (or need to update it) you can choose to write your own Will, or get help from a Will Writing service or a Solicitor. There are many reasons to ask for advice when writing your Will, such as:
- To resolve complicated family situation (perhaps with former partners)
- To protect young children or a disabled family member
- Peace of mind
- To pay inheritance tax
- To declare any debts and how they should be paid
*Please note Wren Sterling does not offer Will Writing advice but we have professional partners that offer this service