When there’s more than one of you to think about, planning for your family’s future becomes of greater importance.
You may still be fairly young but as your family grows up and gets older, there are a number of things to consider.
And some of them are time critical because you never know when unforeseen circumstances will come your way.
Things To Consider
Putting aside a few quid a month in a Junior ISA from when your kids are babies will leave them with a nice little nest egg when they reach 18.
Although it’s worth bearing in mind the money will be theirs when it matures to do with as they please.
With any luck they’ll do something sensible with it!
In the event of your death would your family be able to pay bills such as the mortgage?
It’s worth considering getting some life assurance in place just in case the unthinkable happens.
From my family’s point of view we only have cover on my wife because she is the one bringing in the money.
When you’re young the idea of paying into a pension isn’t at the top of your priorities.
But the earlier you start paying the longer your money has to accumulate and the bigger your pension pot should be when you come to retire.
Many pension schemes also offer benefits such as a lump sum on your death along with a spouse’s pension.
Putting A Will In Place
If you die without having a will in place things can get complicated.
What happens to your estate won’t be decided by you and it will get divided up according to the intestate laws.
That may result in legal costs, family disputes and your family having to pay more tax than necessary on your estate.
And Then There’s The Funeral
When planning for your family’s future I’m sure your funeral isn’t something that immediately springs to mind.
Yet it’s a pretty big expense which your family could end up having to pay when you’re gone.
With the costs of funerals rising, it’s a financial burden that they may not be able to afford.
Planning a funeral isn’t something which comes up in general conversation either so your family may be left not knowing what you wanted to happen.
There is a way you can mitigate that circumstance though by going down the funeral plan route.
Planning is bringing the future into the present so that you can do something about it now.Alan Lakein
The Funeral Plan
Investing in a funeral plan spares your family from the financial burden and planning of a funeral.
It covers everything from the music, readings, cars, the funeral director to the flowers.
So when your time is up, the designated funeral director sets things in motion.
Your family will be left in peace in the knowledge that everything will be taken care of.
With a funeral plan from Avalon Funeral Plans you pay today’s prices (remember funeral prices are increasing) in lump sums or instalments for up to 10 years.
There are a range of affordable and flexible prepaid funeral plans to choose from.
You can request a brochure for more information.
How Are You Planning For Your Family’s Future?
What provision do you have in place for those unforeseen circumstances that may come your way?
Disclosure: This post was produced in association with the Avalon Funeral Plans