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01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million

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05/01/2009 15:21:21

People urged to keep will up to date

A significant number of Britons lack awareness when planning what will happen to them in the event of their death, it has been reported.

Research carried out by Standard Life reveals that single people are less likely to have a will in place, something it claims could put potential inheritance tax allowance and exemptions at risk, in addition to making their legal affairs more difficult for their loved ones to manage after they die.

Furthermore, about half do not have all their important documents related to the event of their death - such as their will and funeral arrangements - stored in one place.

Julie Hutchison, head of estate planning for Standard Life, said: "Making a will and keeping it up to date can save family and friends a great deal of distress and potentially, money, so it should be regarded as a priority."

In other news, Friends Provident recently reported that Britons believe they will require an average of £832 a month to have a comfortable retirement.

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