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Do you have a will? watch

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    (Original post by Airmed)
    I have a pension but not a will. I don't want to be thinking about a will just yet!
    (Original post by sr90)
    I was thinking about this recently as I've got a significant amount of money in there (well for someone my age anyway) and I wouldn't want that money not to get passed on if anything were to happen to me.

    It just feels really strange to be thinking about retirement & death when i'm barely out of university!
    Pensions, life insurance and similar, can be written in trust so don't need a will per se.
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    I've made a will, but thats only because I don't my dad to gain anything if I unfortunately die, my money and assets will be split between my mum and sister
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    (Original post by sr90)
    I was thinking about this recently as I've got a significant amount of money in there (well for someone my age anyway) and I wouldn't want that money not to get passed on if anything were to happen to me.

    It just feels really strange to be thinking about retirement & death when i'm barely out of university!
    Aye, I only got the pension cause of my work. It's quite strange!
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    (Original post by Doonesbury)
    Pensions, life insurance and similar, can be written in trust so don't need a will per se.
    so far Daddy is getting my pension money :mmm:
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    In the absence of a will there are fairly straightforward rules as to who inherites what proportion of an estate.

    You can check here:
    https://www.gov.uk/inherits-someone-dies-without-will

    NB. Tax planning is another part of this stuff. A will is just a small part of it.
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    (Original post by Doonesbury)
    In the absence of a will there are fairly straightforward rules as to who inherites what proportion of an estate.

    You can check here:
    https://www.gov.uk/inherits-someone-dies-without-will

    NB. Tax planning is another part of this stuff. A will is just a small part of it.
    You gonna put me in your will maty?
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    (Original post by Reue)
    did you not have to specify your nominations when originally setting up the pension?
    I have no idea tbh, it wouldn't hurt to check I suppose. I do plan on merging them sometime soon so i'd probably have to do that then.

    Should really know all this as I work in the financial sector, but I don't touch pensions at all.

    (Original post by Airmed)
    Aye, I only got the pension cause of my work. It's quite strange!
    Yeh i'm quite lucky in that both of my jobs have had very generous contributions that aren't taken from salary, plus the ability to contribute more which I take full advantage of.

    I don't expect things like the state pension, the concept of a retirement age or even the NHS to exist when i'm in my 60s so i'm putting money away now whilst I can. I don't want to be working until i'm 70.
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    (Original post by sr90)
    I have no idea tbh, it wouldn't hurt to check I suppose. I do plan on merging them sometime soon so i'd probably have to do that then.

    Should really know all this as I work in the financial sector, but I don't touch pensions at all.



    Yeh i'm quite lucky in that both of my jobs have had very generous contributions that aren't taken from salary, plus the ability to contribute more which I take full advantage of.

    I don't expect things like the state pension, the concept of a retirement age or even the NHS to exist when i'm in my 60s so i'm putting money away now whilst I can. I don't want to be working until i'm 70.
    I was automatically enrolled into mine and didn't sign anything, but I wouldn't want my pension to go automatically to a family member should I pass so I'm gonna probably gonna have to speak to HR or something regarding that.
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    (Original post by Yaboi)
    I was automatically enrolled into mine and didn't sign anything, but I wouldn't want my pension to go automatically to a family member should I pass so I'm gonna probably gonna have to speak to HR or something regarding that.
    I remember filling out a form but I don't remember giving my mum's details, and she's the only person i'd put on any "next of kin" document.
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    (Original post by FantasticMsFox)
    It's free? Really? I was under the impression that it would cost at least £100 to get a solicitor to make a will.
    If you went to a solicitor that's probably what it would cost. But for relatively simple estates ("I leave everything to my Mum" etc) then with a bit of googling to understand the requirements you could easily do it yourself.

    Some charities offer free will writing services (they want you to leave something to them).
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    (Original post by Duncan2012)
    If you went to a solicitor that's probably what it would cost. But for relatively simple estates ("I leave everything to my Mum" etc) then with a bit of googling to understand the requirements you could easily do it yourself.

    Some charities offer free will writing services (they want you to leave something to them).
    Ah, okay, that's good to know. I think I saw some legal packs in WHSmith recently and I think I saw something about making a will but I'm not sure.

    Yeah, I've heard about those. I wouldn't mind leaving a bit of money to a charity. I think a few life insurance companies offer a free will as well.
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    I have a question for everyone who reads this.

    How much money do you think you'd need to have before you consider making a will?
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