Check if you have death in service cover

All employees should check to see if they have death in service cover provided by their employer.

If so you should ensure you have nominated who you wish to receive this.

Remember children under 18 cannot receive any benefit until they reach majority (18 years) - would this help them if you died now?

Remember if you have not nominated anyone it will go into your estate, potentially part or all of it could then be taxed at 40% if it takes your estate over the nil rate band inheritance tax allowance.

Remember then if you have not nominated anyone, you don’t have a will and are married it will not necessarily all go to your spouse.

Remember if you are married but separated, without nomination or a Will, much of it could end up going to your ex.

Remember if you have not updated your beneficiaries with your scheme provider recently it could still be wholly appointed to your ex if their name is still on there as your nominated beneficiary.

Remember if you have not nominated anyone, are not married and do not have a Will it will be distributed to any children first, if no children exist then any surviving parents next, then brothers and sisters with wider family following - is this what you want?

In many cases these payments will be £100k upwards and if your family will also be suffering the loss of your income, ensuring your wishes are up to date and getting a Will in place is vital

Call us now on 01903 649021 to arrange a telephone appointment with our Director Paul Blackmoore

NHS staff and those with children under 18 only pay £29.99 for a will when donating £5 to the NHS COVID-19 appeal