Equity Release & The Importance of Making a Will - July 2020
This videoEquity Release & The Importance of Making a Will illustrates why it is important to consider what will happen when you die.
Over thirty million adults in the UK do not make a will. More worrying still, 75% of people with dependant children have not made a will, nor have 80% of couples living together without marrying.Yet those who die intestate can leave behind confusion and heartache because they have failed to make provisions for their loved ones. For example, if both parents die at the same time, in a car crash or similar accident, custody of their children may not go to the person they intended unless their wishes are made clear in a will.
Common Misconceptions
A large percentage of people wrongly believe that if they die without making a will their husband or wife will inherit all their assets automatically. Similarly, almost 90% of parents who are married or in civil partnerships are unaware that if they die without a will the surviving partner will inherit a maximum of £270,000 from the estate. Half of the remainder of the estate would go directly to the children while the surviving partner would receive a life interest in the other half which would pass to the children on the surviving partner's death.
So, hopefully this information will highlight the need for leaving a will.
Entering an equity release agreement makes the need for a will paramount and you need to decide who should benefit on your demise.
Estate planning is very important ensuring that inheritance tax liability is kept to a minimum, with arrangements in place to provide for any IHT that may become due.
Here is a summary of the 20 videos in this series available to view now.
Who Is Pat Cunningham and Why Is He Explaining Equity Release ?? • Who Is Pat Cunningham & Why Is He Explaini...
What is Equity Release ?– July 2020 • What is Equity Release? -July 2020.
Equity Release - What is Compound Interest in a Lifetime Mortgage ? - July 2020 • Equity Release - What is Compound Interest...
How do you qualify for Equity Release? - July 2020 • How do you qualify for Equity Release? - J...
Equity Release Safeguards and Guarantees - July 2020 • Equity Release Safeguards and Guarantees -...
Getting Permission from Occupants for Equity Release - July 2020 • Getting Permission from Occupants for Equi...
How Long Does It Take To Arrange Equity Release ? - July 2020 • How Long Does It Take To Arrange Equity Re...
Equity Release Early Repayment Charges - July 2020 • Equity Release - Early Repayment Charges -...
What Happens with Equity Release when You Enter Long Term Care ? - July 2020 • Equity Release - What Happens When You Ent...
What Happens with Equity Release when You Die ? - July 2020 • Equity Release - What Happens when You Die
Can You Still Move Home with Equity Release ? - July 2020 • Can You Still Move Home with Equity Releas...
Equity Release - How Much Can You Borrow ? - July 2020 • Equity Release - How Much Can You Borrow ?...
Equity Release - Home Reversion Plan - July 2020 • Equity Release - Home Reversion Plan - Jul...
Equity Release - Retirement Interest Only Mortgage (RIO) - July 2020 • Equity Release - Retirement Interest Only ...
Equity Release & The Importance of Making a Will - July 2020 • Equity Release & The Importance of Making ...
Equity Release - Lasting Power of Attorney - July 2020 • Equity Release - Lasting Power of Attorney...
Equity Release – Inheritance Tax • Equity Release - Inheritance Tax
5 Equity Release Myths Dispelled • 5 Equity Release Myths Dispelled
10 Equity Release Reasons • 10 Equity Release Reasons
Equity Release Explanations Conclusion • Equity Release Explanations Conclusion.