January, 2014

Can You Gift Your Kindle Collection In A Will?

As you upload an MP3 copy of the Beatles famous long player, “Sgt Pepper’s Lonely Hearts Club Band”, to your favourite cloud app, retrieval of John Lennon’s great song, “A Day in The Life”, after your death, will not be amongst your major thoughts at the time of upload. Perhaps it should be, because your rights to the file are almost certainly not as you would expect. Where you devoured printed books, DVDs and CDs, you own the property and can use them during your lifetime before leaving them in your will to a specific person or charity. With digital files, what you own is a licence to use the digital files and those rights expire when you die. In reality, you will have to ensure that people have access to your files in the cloud, after you die, if they are to download your e-book’s, MP3s and video files. For this, they will need your passwords and you’ll need to continually update those people either with where you keep your passwords or with the actual keystrokes so they can access your files after your death. This brings about a second problem, because the files may be kept in a cloud facility where an annual payment is required for continual access. Where you leave an extensive digital collection of e-book’s, videos and MP3s, the people you leave behind may have to download your entire collection and move it to their own data collection in the sky. While people still do purchase printed books, DVDs and CDs, the numbers are declining rapidly as people move towards purchasing and downloading digital files. Previously, individuals stored the digital files on their hard drive, but with the move towards mobile phone and tablet use to hoard ever larger collections, a cloud account is required as mobile phones and tablet computers have small storage facilities, which means that you are keeping most of your files elsewhere. Apart from opening up entire conversations about all of your online data, passwords and digital storage, it is important that your Last Will and Testament is up-to-date to ensure that the right people will receive the right amount, at the right time.   Related articles   E-books may soon replace printed publications Kindle Paperwhite Review: If Only Every E-Book Reader Was This Good...

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Cost of Dying Increases Each year

A cost of dying survey, by Sun Life Direct, suggests that it’s not only the cost of the physical cremation or burial that you need to consider when you organise a funeral, but all of the associated costs including the wake, flowers, printed orders of service, fees for the doctor’s certificate , an urn – if it’s a cremation, the hire of limousines and facilities to visit the deceased. Instead of expecting a funeral to cost you around £3,500 for a cremation in 2014 (and perhaps a few hundred more for a burial) they suggest that the total cost is likely to be nearer to £7,600, so your plans to source the funds for the funeral will require a dramatic increase in expectations. They show a graph within their report which clearly shows that funeral inflation has been around 80% between 2004 and the middle of 2013. By arranging a Pre-Paid Funeral Plan, you will be fixing the funeral director’s costs at today’s prices, protecting you against inflation. Related articles Cost of living? What about the cost of being dead? | Zoe...

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What If You Can’t Afford a Funeral?

An article, from the Mail on Sunday’s ‘This is Money’ section, questions how you can afford to cremate a loved one if you don’t have the money available. They offer advice about the current costs of burying or cremating someone, how the funds can be relocated from the deceased’s estate and what happens if you have no money at all. A link to the article can be found on this webpage. They’re part of the Daily Mail newspapers in the UK. Although the cost of funerals is rapidly increasing by what appears to be more than the rate of inflation each year, particularly as councils have found that this is a way to increase their revenue without increasing local council tax, where you don’t plan for the inevitable cost, the expense can be quite a shock to the system of those you leave behind. For those who cannot easily find £2,000-£6,000 from their own funds, or the estate of the deceased, you could consider a Pre-Paid Funeral Plan and pay just under £14 a week (around £60 a month ) over five years, to set the funeral director’s costs so that you never have to pay any more whatever the rate of inflation. A high-quality Pre-Paid Funeral Plan will cover all of the variable costs which are associated to a cremation, such as the doctor’s fee, the clergy or humanist fee and the local authority’s charge for the cremation. With an annual funeral costing around £3,500 and present, the total charge may be far higher when you add the cost of flowers, newspaper advertisements, a printed order of service and the catering for a wake afterwards. The Halifax issued figures recently that claims that the average person in the UK has £7,780 in savings. Banks and funeral directors will do all that they can to ensure that funds are available at the right time and to reduce the burden of finance at a time when your life may be in turmoil already. Nevertheless, funeral directors are running a business and expect to be paid and banks can only release money if they are sure there is sufficient within the deceased’s estate to be able to clear debts. A last Testament and will is a good legal document that will help an executor of a will to collect funds from bank accounts and pay debts, but perhaps a Pre-Paid Funeral Plan...

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Pre-Paid Funeral Plan Sales Are Up

The Funeral Planning Authority has issued statistics about sales of Pre-Paid Funeral Plans for 2013/14. They say, that from 95% of the market’s results (they don’t know about the other 5%) 135,160 plans were purchased during 2013. 57,001 plans were used during the year (a funeral was arranged) . This still leaves 859,840 plans unused so far, with people who have planned to offer peace of mind to their families by arranging their funeral in advance. Private Healthcare UK added this notice to their website: According to the latest Funeral Planning Authority figures, 67,484 people bought pre-paid funeral plans in the first half of 2013. Expected growth for 2013 is 12% with expected total sales of 135,000. During the first half of 2013, 30,555 people died and had all or much of their funeral paid for by their funeral plan. By the end of 2014 there will be around a million people with a funeral plan. A pre-paid funeral plan is a contract where in return for a fee in advance, the plan provider agrees to provide a funeral for the customer on the death of the customer. Where you need to find out more about Pre-Paid Funeral Plans and their availability for you, go to these help pages for more information. Related articles Poorest people cannot afford costs of dying, report...

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5 tasks to complete late in life

Forbes, an American business magazine, has used an article to suggest that people should have four main plans as they approach their last few years on this earth. They carefully detail the reasons why these four plans are vital to your latter years. Write your will Complete a Living Will Stop holding a grudge Compile a bucket list …….. Pre-Paid Funeral Plan These sensible suggestions can be applied to anyone, at almost any age. We can deal with the first two for you, writing your Last Will and Testament and your Living Will, also known as an advance directive, but you’ll need to write your own lists for the latter two tasks. There should be a fifth task on the list, that of purchasing a Pre-Paid Funeral Plan. By paying in advance you will know how much money you have left to complete your bucket list. Your family will have peace of mind in knowing that your wishes can be carried out exactly and they will understand that your were financially astute to buy at today’s prices to ensure that inflation doesn’t wreck the funds and property you intend to leave to friends, family and charities. Bucket List!...

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