21/07/2021
In a recent article from the Daily Telegraph they highlight issues around paying for funerals and family members even having to take out loans to pay for funerals.
'Inheritance is an important matter which many people will want to consider before they pass away. In most cases, leaving a legacy, whether financial or otherwise to family members and friends will be a vital consideration for older individuals. But while some may have ideas about how an inheritance could help them in the future, there are perhaps more pressing issues to address.
One of particular importance is the cost of a funeral, a time which can already be upsetting and stressful.
Research from Tower Street Finance has shown thirty percent of individuals in the UK have admitted they would not be able to afford to give their loved one a funeral.
Part of this problem arises from the fact many are reliant upon an inheritance from their loved one who has passed away to cover the all-important costs.
One in seven of individuals asked said they would rely on an inheritance from the person who has passed away to cover funeral costs.
But with an often-lengthy probate process, it is unlikely individuals will get access to the funds they need within the time necessary.
As a result, many Britons have been forced to take desperate measures to find the money they need.
Some 52 percent of those asked said they would be forced to turn to a personal loan or credit card.
And a further 22 percent said they would have to rely upon borrowing from family and friends.'
We are happy to be able to offer pre-paid funeral plans through a national, reputable company. See the comments to find out how to contact us for a no obligation chat.