Research by McCarthy & Stone – the UK market leader in later life development – shows that a worrying number of over-60s have failed to put their financial affairs in order by making a will.
The research, conducted among 1,000 retired people aged over 60, revealed 25 per cent of them have not made a will, which means it could take months or even years to divide their estate when they die.
This creates uncertainty and unnecessary expense as well as long legal delays for the deceased person’s family, and may mean their estate is not divided among the people or causes they would have chosen.
To encourage more adults of all ages to make a will, McCarthy & Stone has launched a new, cost-effective, postal will-writing service that guides consumers through the process from start to finish.
The service, which has been launched in conjunction with legal firm Irwin Mitchell, provides peace of mind, as well as convenience, by ensuring that the will is reviewed by a legal professional prior to completion.
Other benefits include plain English commentary, clear signing instructions, a simple fixed fee service, with the exception of very complex matters, and access to a dedicated helpline.
Ali Crossley, Executive Director of McCarthy & Stone, said: “There are many reasons why people of all ages may not make a will, ranging from concern about legal costs to apathy and a fundamental misunderstanding about what will happen if they die intestate (without a will).
“We want to make it simple, affordable and yet legally watertight for people to make a will in the comfort of their own home. We believe our new service answers this need and we hope it will encourage more people to take action and put a will in place.”
The postal will writing service complements a range of new financial products and services that have been launched by McCarthy & Stone to help people take control of their finances and live later life to the full.
These include a Lasting Power of Attorney Service that enables people to appoint someone to take responsibility for decisions about their finances and property if they are no longer able to do so themselves due to age, illness or disability.
McCarthy & Stone has also launched a Guaranteed Funeral Plan, which allows people aged over 50 to pre-pay their funeral costs via a one-off payment or over a series of payments. This removes the burden from loved ones and provides peace of mind that everything will be taken care of financially.
The company has also launched a Pension Annuities Service which boasts a skilled team of annuity experts who assess health and lifestyle factors in order to secure a better pension income.
This is complemented by an Equity Release Service which provides people with impartial and no nonsense advice about the different ways available to release the value in their home.
For more details log on to http://www.mccarthyandstone.co.uk/ or call 01202 292480