Financial honesty 'essential' when writing a will

by Daniel Jones

Couples have no option but to be completely honest with each other when it comes to their finances, otherwise problems may be encountered when making a will.

Andrew Swallow, an adviser with Swallow Financial Planning in Kensington, explained the need for couples to address their financial concerns from the outset.

This is especially important for couples who choose to cohabit and are unlikely to get married, the expert noted.

"If you are buying any substantial asset together such as a house, and you are not married, then the brutal truth is that you both need to make a will," Mr Swallow explained to the Independent.

He highlighted that anyone who has not chosen to make a will could find themselves in all sorts of financial difficulties if one partner were to suddenly die.

Research from Goldsmiths at the University of London has shown that one in ten people now leave passwords to internet accounts to their loved ones when making a will.

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Published on: October 17, 2011

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