Our Survey Says.....

Our Survey Says………..

Happy 2019 to you all! The team at Langhams are all back at our desks and for some it feels like the Christmas break never really happened. Quite often in the hurly burl of our working lives we forget how busy family life can be too.

Whilst we were busy watching repeats of Die Hard and eating too much cake, our team also decided to do a little market research. The time off gave us all chance to talk to people we might not usually such as out dog walking, doing the shopping or whist socialising. So between us we interrogated (well cordially asked the question whilst explaining our work) approximately 60 people and posed the question ‘What should all adults have…?’

Interestingly, once we got past the usual Ferrari, holiday home in South of France and Moon on a Stick replies there was a very common thread. It reflected some serious, we know what we should do but then why don’t we, issues.

Here’s our top 5 answers in reverse:

5. Death Benefits on Personal Pensions – about 3% of our panel mentioned the Death Benefits from their personal pension. It seems many of us our unaware we can state who benefits from the funds in our personal pension upon our demise. What’s more any monies received as a Death Benefit from a pension are not included as part of the inheritance and therefore not included as part of the inheritance tax sum! That alone makes it worth saying who receives the monies you’ve been wise enough to put by.

4. Will Storage – about 7% of our panel said they thought Will Storage was important. It seems many people keep their Will in a ‘safe’ place and families often struggle to know where this is or even if one exists when the time comes to use it. Langhams recommend using a storage facility where it is protected from fire/flood/theft or loss, and provides your family the safe knowledge that a Will not only exists but where to go to get it.

3. Pre Paid Funeral Plan – we were interested to find mostly it was our younger answer givers who felt a pre paid funeral plan was something people should have. About 15% gave this as something they felt would benefit their families. After all when we consider that funeral prices have risen drastically over the last 10 years, purchasing a plan now could save your family a hefty cost at a time of great turmoil.

2. Lasting Power of Attorneys – 20% of those we spoke to gave Last Power of Attorneys as their answer. Knowing that someone can act on your behalf and in your best interest when you can no longer do so yourself is quite a reassuring feeling.

And finally

1. A Will – over half of those we spoke to said a Will was something all adults should have! And yet it is widely accepted that around 70% of the adult population do not have a Will which means they would die intestate. Understanding the complexities of Probate and who would inherit under such circumstances can be tricky and yet so many still leave this too late.

At Langham Wills we truly believe that prior planning and preparation prevent families from experiencing complications and unnecessary stress at a time of emotional distress. We offer a professional estate planning service with a personal touch and with over 20 years experience we offer a reliable and efficient service. So contact Langhams Wills Ltd on 01473 487611 or email theteam@simplewillsonline.co.uk to find out more.