October is free wills month, where a host of charities offer older people the chance to have a will written without charge, or in exchange for a donation. However, industry figures have suggested that while this is a useful tool for pushing people towards getting their wishes in place, wills should be discussed with clients of all ages, not just the over-55s.
I want my clients to be looked after
Scott Taylor-Barr, financial adviser at Carl Summers Financial Services, said he always asks clients if they have a valid, legal and up-to-date will, particularly if they have children.
He continued: “If they don’t have one, or it’s really old, then I’ll refer them to a couple of different specialist solicitors that I know well.”
What’s more, Taylor-Barr says there is no commercial tie-in involved here. “It is purely done on the basis that these solicitors have done great work for my clients in the past and I know my clients will get well looked after and a proper job will be done for them.”
Getting protected
Aaron Strutt, product and communications director at Trinity Financial, said his firm lets his clients know that a full protection service is provided, with specialists in place to help with life insurance, income protection and wills.
He continued: “The majority of our clients have life and income protection policies because they would rather pay a relatively small amount each month to ensure they are covered in case something unexpected happens.”
A question of education
Iain Swatton, head of intermediaries at Dashly, said that brokers are well placed to help arrange a will for their clients, often through a simple referral, though suggested that many do not do this, perhaps because the client argues they don’t currently need one.
Swatton added: “The impact of not doing a will is not immediately felt but could have a massive impact on those left behind. Education on why preparing a will is so important and also incentivising the client with no set-up costs can only have a positive impact and ensure clients take the important decisions at the appropriate time.”
