There are lots of choices of where to save or invest your money to make your end of life better or leave a healthy legacy. You should usually look to use your tax free allowances first. Find out about the options and the pros and cons.
Equity release is a way of releasing some of the money that’s tied up in your home, providing you with a cash lump sum.
Life cover insurance can ensure that, if you died, your family would be financially secure, your mortgage paid off and your funeral covered.
It’s the ideal. To pay off your debts and still have something in the coffers for a good ‘wake’ and a wee share out.
What happens to a home when someone dies if it’s jointly owned? This is pretty critical stuff to understand.
Almost immediately on death the paperwork starts. Probate – called confirmation in Scotland – oversees and allows the legal distribution of the estate.