Free Wills Month

October marks ‘Free Wills Month’. Many Will writers are offering free or discounted Will writing to encourage people across England, Wales, Scotland and Northern Ireland to have their Wills written or updated.

An up to date Will, written by a solicitor, ensures your wishes are respected. It also avoids difficult conversations and decisions for your loved ones after the worst has happened to you.

30 million UK adults do not have a Will, with many people saying they’d “not got round to it” or “didn’t know where to start”. Although nobody likes to think about what happens after they’ve gone, writing or updating your Will really is a must-do.

Low-cost or free Will writing

Solicitor drafted Wills

Wills drafted by solicitors are ‘gold standard’ but can often set you back hundreds of pounds. However, if you’re aged 55 or over, Free Wills Month allows you to get a new or updated Will for free! Free Wills Month offers the service free of charge in the hope you’ll choose to leave a donation to one of their partnered charities, but this isn’t compulsory. There is no upfront cost.

Will Aid

With Will Aid, more than 400 solicitor firms across the UK can draft a Will for you for a ‘donation’. But if the typical donation of £100 is too expensive, you can donate what you can afford instead.

DIY Wills

You should only consider a DIY Will if your wishes are very simple. If you plan to leave everything to your spouse, or should they pass away before you, you then want to leave everything to your children, DIY Wills could be an option to ensure your wishes are respected and save you some money in the meantime. However, if you have stepchildren or aren’t married to your partner, a Solicitor drafted Will might be better for you.

Free Wills is completely free to use, including future changes you may make to your Will. Remember to check the reviews and small print before opting for a DIY Will.

Check out Money Saving Expert for more information on DIY Wills.

Free Life Cover

Nobody likes to think about what happens to their loved ones after the worst has happened, but your Penny Post membership includes Free Life Cover, giving financial help and peace of mind in the event of a members death.

Our Bereavement Fund is a free benefit for all members and offers the following assistance –

  1. Double the value of a member’s savings with Voyager Alliance, up to a maximum of £5,000
  2. For members with less than £250 in savings, the Bereavement Fund payment will be £500
  3. Repay the deceased member’s loan*

For example, Mrs A is a member. At the time of her death, she has £2,000 in savings, and a £10,000 loan. Thanks to the Bereavement Fund, Mrs A’s nominee would receive £4,000 (£2,000 savings, doubled) AND we would cancel the loan repayment.

Is your nominee up to date?

All Penny Post members have the option to ‘nominate’ a person (or persons) to receive their money in Penny Post, up to the value of £5,000, at the time of their death, thanks to our Free Life Cover. This person is called the ‘nominee’ or ‘nominated beneficiary’. Having a nominee in place helps Penny Post Credit Union release funds with minimum documentation following the death of a member.

Nobody likes to think about their death but having a nominee / nominated beneficiary in place means we can help to ease the financial strain and help support your loved ones in the early stages of bereavement.