Do I need a will? | #Money Hotline 2

Welcome back to The Hotline! Today we answer a question from Nicole. She is 35 years old and bought her first home a couple of years ago with her partner. Nicole asks us how to start when it comes to making a will.

The number 35-54 year-olds with a will has decreased from 37% in 2019 to 22.5% in 2021 – a decline of 39%. This means that fewer people are leaving instructions for their loved ones when they pass away. This week, we’re going to talk about who needs to have a will, and what the process entails.

Today on The Wallet:

1/ We’re joined by Kate Pentelow, founder of The Money Mummy, a friend of Vestpod and former financial advisor. Together, we open up the conversation around making a will. We know it can feel uncomfortable and emotional to do, so Kate tells us how we can best prepare for the process.

2/ We discuss when the right time to make a will is, the different options available, and take a look at why, especially as women, it’s so important to be pragmatic and prepared if the worst were to happen.

3/ We also have an inspirational proud money moment to share and a recommended episode from the Vestpod community.

Resources:

• Money Helper: https://www.moneyhelper.org.uk/en/family-and-care/death-and-bereavement/planning-what-to-leave-in-your-will
• The Law Society https://www.lawsociety.org.uk/en
• Probate Services: https://www.gov.uk/government/publications/store-a-will-with-the-probate-service

Connect with Kate:

- Instagram: @The_Money_Mummy

Our podcast partners PensionBee are also offering you a £25 pension contribution (£20, plus £5 in tax relief) when you sign up. To claim the offer, follow this link: https://www.pensionbee.com/vestpod. Capital at risk.

I’m Emilie Bellet, the founder of Vestpod.com - a thriving community that financially empowers women, author of You’re Not Broke, You’re Pre-Rich and host of The Wallet! You can learn more about Vestpod, join our events and subscribe to our newsletter at www.vestpod.com and on Instagram @vestpod. Join our private Facebook group: @vestpod.

Follow the link https://telb.ee/abrzt to submit your proud money moment, question or comment!

* Please note that we are not certified, financial advisers! The articles and information made available on Vestpod and this podcast are provided for information and educational purposes only and do not constitute financial advice. You are advised to consult with an independent financial advisor for advice on your specific circumstances. Also, if you’re investing money, make sure it’s for the long term and you understand what you're investing in.*

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