To Will or not to Will?

(DIY)Do-it-yourself may work in various aspects of our lives like plastering your living room or cleaning the dust out of your laptop.
Here are some interesting figures about Wills, DIY wills and the general attitude from the public towards them.

The Journey of Digital Art

With digital art starting to dominate the art industry, it’s safe to assume that some artists may have numerous art pieces, complete and incomplete that need to be organised and saved securely, especially in the case of something happening to the artist. His friends and family may not know where all these art pieces are or what the artist in question would like to do with them

Life Insurance – Are you covered?


Life insurance is believed to have originated in Rome and India and is based on the fundamental premise of securing and protecting loved ones from paying off debts and providing for family when the care provider is deceased.

It is a contract between an individual and an insurance company leaving detailed instructions on how the company should pay the policy holders’ when they pass away.

Of course if you are single with no dependents or elderly with children that do not need to be taken care of you are less likely to need a life insurance policy.

On the other hand if both you and your partner are employed it’s always good to set one up to guard against the unforeseen.

Taking preventative steps to ensure your loved ones are taken care of makes perfect sense but what are the disadvantages?

The life insurance acquisition process can be lengthy and at times complex. The purchase of life insurance based on whether it’s for a business or family requires careful consideration. And of course, there is a cost involved.

However on the plus side a life insurance policy can be exchanged for another life insurance policy without incurring taxation. Also the cash value grow tax deferred during the policy holder’s lifetime, and of course your family is protected.

The key reasons people opt for life insurance are to fund their children’s education. This is followed by covering any final expenses such as funeral costs, car payments and mortgage payments.

The two main types of life insurance cover are;

Term insurance

This type of cover can also be called level-term assurance. The payout would be the same no matter when the policyholder died during the term.

This is a very popular kind of cover because it pays out a lump sum or a monthly income if you die within a set period of time but if nothing happens to the policyholder it simply lapses and they get nothing in the end.

Whole-of-life cover

This is a life insurance policy that covers the policyholder for the insured’s whole life and requires (in most cases) premiums to be paid every year into the policy. The proceeds of the policy will usually go to the policyholder’s family or beneficiaries of their estate. These policies are more expensive than term assurance policies, which only pay out if you die within a certain timeframe.

Interested in getting one now, but don’t know how?

First you have to understand how the insurance premiums work. If you are likely to die in the near future you’ll have to pay more but the insurers look at certain factors which could affect your premium. These include your lifestyle, age, medical history and job.

There is a raft of choices these days for getting more information and costs, from your employer to cost comparison sites and your bank. Ask friends and family too as recommendations are often the best route to take.

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How to use PlannedDeparture- To Protect your Bank Accounts.

A bank account is a financial account between a bank customer and a financial institution. We trust banks to keep our finances safe. With all the levels of security, banks are fashioned to keep our financial accounts safe and secure at all costs.

In doing that they will not disclose any information whatsoever to anyone be it family or friends unless they are asked by courts.

As it is with banks so it is with Planned Departure Bank Account information.

If something happened to you tomorrow, what would happen to all your finances in the bank? it becomes government property if your family or loved ones do not have the adequate information to recover them.


Everything from dormant bank and building society accounts, unclaimed Premium Bonds and prizes; National Savings and Investments Stamps & Gift Tokens, Post Office savings accounts, bonds and certificates; orphan pensions, unknown National Lottery winnings, missing life insurance, estates and court fund balances; unclaimed windfall shares arising from demutualisation, lost government stock & gilts, and much more.

The Financial Times reports there is a “sea of unclaimed assets sloshing around the financial system” very conservatively estimated to be worth £77 billion! Read more

With Planned Departure you have the option of putting as many bank account details as you please with a list of beneficiaries.

This makes it easier for the right information to be given to the right people at the right time. Your loved ones will gain access to these accounts and also carry out any wishes you instructed. As a result its easier for you and your loved ones.

Let me demonstrate how easy it is to add bank accounts and beneficiaries with Planned Departure. Please follow these steps to add information about your bank account and add it to right beneficiaries to ensure that your hard earned money does not end-up in unclaimed assets.

1. Login ……

2. Make sure you have verifiers….

3. Make sure you have beneficiaries..

4. Add bank account…

5. Assign right beneficiaries / instructions…

That’s it. This will ensure that your bank accounts are never dormant and your loved ones have the required information to carry out your wishes.

If you are not a member of Planned Departure yet, join today and ensure that your hard earned money does not end-up in unclaimed assets after you pass away.

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Let’s talk about Wills …

We welcome IWC Wills and Probate as new members of PlannedDeparture family. They are our latest partners. You can find more information about them here


So now we will be talking a bit about Wills.

What is a will?

A will is a legal document stating the distribution of property after death. A list of names of one or more individuals as beneficiaries or charities. It can also include the care of minor children. It declares your intentions of what specifically you would want done to your possessions and wealth.

There are 11 types of wills.

  • Joint Will
  • Attested Will
  • Living Will
  • Video Will
  • Mutual Will
  • Conditional Will
  • Testamentary Trust Will
  • Pour-Over Will
  • Trust Will
  • Mirror Will
  • Holographic will

Making a will gives you sole discretion over the distribution of your assets including your digital assets.

Have you ever asked yourself what would happen to your digital legacy when you pass away? Read what happens here.

What can be in your will?

It is everything you want it to be. From sentimental objects, properties, online accounts and passwords, money, debts, family heirlooms etc.

How to make a will?

You can also make it yourself online with the help of software programmes and websites but if you have any questions you can get assistance from a lawyer or solicitor. Read more about the requirements of making a will here.

If you haven’t already made one, make one now…

Don’t forget that your digital assets are just as important as everything else so do not forget to include that in your will, if you haven’t already, changes to your will can be made easily. Set up an account with planneddeparture. We value and protect your digital assets and make sure information is shared as you instructed.

Sign up for a free trial today