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Thirty years ago, you would never have imagined that life cover would be sold over the phone, never mind online. It was the domain of revered men in suits and briefcases with jargon and phrases that made you think you needed a PhD in finance to understand what you were buying.
Despite the inevitability of your death, the subject of what happens after you’re gone is all too often ignored. Rather than leaving matters to chance – or the courts – estate planning should be seen as a life-long responsibility of reviewing and adapting your plan to ever-changing circumstances.
Paperwork and thinking about one’s death are both probably equally unpopular, but Covid-19 should serve as a reminder of your mortality.
As we reach the end of the year and prepare for much needed rest and relaxation it would be worthwhile to add a few estate planning considerations on your December to-do list. Pausing to consider issues that might impact you and your family in the short and long term, is important.
The strongest deterrent against FSP compliance missteps is or should be: