Couples’ secrecy risking probate issues
British couples risk problems in later life by failing to
discuss their estates and Wills while keeping personal finance
secrets, new research has revealed.
A study by Prudential found that 22% of couples said they have
never discussed estate planning together while 12% of women and 11%
of men said they know nothing about probate plans and were not
interested.
In addition, 32% of people over the age of 40 but not yet
retired do not know the details of their partner's retirement
savings or plans.
"It is incredible that so many people do not know the details of
their partner's retirement savings," commented Prudential
spokesperson Amy Brown.
"Firstly, couples should strive to have open conversations with
one another but they also should aim to be constructive and use
these conversations to begin laying the foundations for their
retirement and estate planning.
"The longer planning goes unresolved the harder it is for
couples later in life."
According to Prudential and leading solicitors, couples should
regularly discuss retirement and inheritance plans and the subject
of Wills before it's too late, seeking expert advice where
necessary.
If you're planning to draft a Will or have any questions,
approach our fully-qualified solicitors today and make sure loved
ones are taken care of if the worst should happen.