FOR PEACE OF MIND...

Having your affairs in order can save your family added heartache, says consumer journalist Sue Hayward. With changes to the law and a growing digital legacy, now’s the time...

UPDATE YOUR WILL ◆ Review it every five years. The average will costs £200. In November, some solicitors waive fees in exchange for a donation as part of Will Aid month (willaid.org.uk). DIY wills cost less than £20, but mistakes can be costly.

YOUR DIGITAL LEGACY ◆ Ever thought about what will happen after you’ve died to photos on sites like Facebook? Put details of accounts and passwords in your will, as well as what you want done with them. Apps like Dead social can help create a digital legacy. On Facebook, you can arrange to have your account deleted or a memorial page set up.

PLAN YOUR FINANCES ◆ The average house is now worth £310,000 so, if you’ve got savings, your estate could easily top the inheritance tax threshold. This means a 40% tax bill on anything over the £325,000 limit, unless you leave your estate to your spouse or civil partner, in which case there’s no tax. Use the calculator at aviva. co.uk. You can gift up to £3,000 each year tax-free, as well as gifting children (up to £5,000) or grandchildren (up to £2,500) when they marry. From 6 April 2017, each person gets an extra £100,000 tax-free allowance if they leave their home to children or grandchildren.

PAY FOR YOUR FUNERAL The average funeral costs £3,702. You can buy pre-paid plans (from £3,000) from funeral directors like the Co-op or Age UK. Use a firm registered with the Funeral Planning Authority, so your money is protected. Tell your family your wishes.