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What you need to think about when writing a will: The things I found out when I got mine, explains SIMON LAMBERT

What you need to think about when writing a will

In theory writing a will sounds simple. You decide who you want to leave your worldly wealth to and how you want things divided up, and then get a legally watertight will drawn up. There's a bit more to think about than that, but that's no excuse for the sizeable number of us who don't have one. Until recently that was me, here's what I found out when I finally got a will.

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WHAT YOU NEED TO KNOW ABOUT MONEY THIS WEEK: LISTEN TO OUR THIS IS MONEY SHOW PODCAST

BIG MONEY QUESTIONS: FINANCE EXPLAINED

What is the FTSE 100? Investor and MP John Redwood explains what it is and why it matters to you even if you don't invest

John Redwood explains the FTSE 100

We explain what it is, what FTSE stands for, what the FTSE 100 number means and what it's got to do with the state of our economy. Charles Stanley’s chief global strategist John Redwood goes back to basics to explain in just two minutes what the FTSE 100 is.

Why do asset prices move? Is it just down to investors reacting to the news or is there something else at play...

Financial markets move about all day – but what makes them shift? Is it just investors responding to the news of the day or are there other factors at play?

The next financial crisis is eight months away, will be BIGGER than the last and triggered by war with North Korea, JIM RICKARDS predicts

The next crisis is inevitable, will hit us in the next six to eight months and will be triggered by war between the US and North Korea, says New York Times best-selling author Jim Rickards.

Why do economists get it so badly wrong? Reasons behind mistakes from failing to predict the financial crisis to misjudging the post-Brexit vote slump

Why do economists get it so wrong at times, is economics up to the job – and if not, what alternatives have we got?

Big Money Questions

THIS IS HOW MONEY WORKS: TIPS FOR YOUR FINANCES

How to give away your money now to beat inheritance tax but protect what's done with it through a trust?

How to give away money and keep some control with a trust

When it comes to passing on wealth to children and grandchildren, the word 'trust' comes up a lot. Trusts are usually seen as the preserve of the very wealthy, but they are actually used by many very ordinary families too. So what is a trust, how does it work and is this really the best way to pass on your money to loved ones? We've pulled together what you need to know.

Games, shops and even their own currency! How children as young as five are learning about finance

How children are learning about finance

Since the introduction of personal finance to the secondary school National Curriculum in England in 2014, many teachers have flung themselves into this subject with enthusiasm. Kirton Primary School in Boston, Lincolnshire, started its own currency, with which Darcie, six, bought a bow for her hair.

SIMON LAMBERT: It's not just about being 'considerably richer than you'... are you on the right side of the savings divide?

Are you on the right side of the savings divide?

A look at the savings divide is more than just an exercise in helping to establish 'I'm considerably richer than you' bragging rights. Because, despite them being no strangers to hard work, those with plenty face a difficulty in understanding the financial lives of those who struggle to scrape together £100 of savings. And a divided society is no good for anyone.

How much money do I need to save for my pension? A quick guide to retirement saving...

How much money do I need to save for my pension?

The amount you can save into a pension ultimately depends on what you can afford - but the longer you leave it the more you will need to save. We tend to put ambitious targets on our hoped-for income in retirement and then underestimate how much we will need to set aside to achieve that. So how much should you save?

From a painful injection, to root canal surgery and giving up their mobile, the things people would rather do than face their finances

New survey shows people are scared to face their finances

According to a new survey by Money Making Champion, most of us would rather have a painful injection, undergo root canal surgery, give up our social lives or even break up with our partner than sit down and plan what to do with our money. And more than half would eat live insects, attempt a ski-jump, give up sugar or go naked in public toa void budgeting.

How rich are you? As figures show Britain getting more equal, we dig into the financial pecking order

How rich are you? Work out where your income and wealth sits in the UK

How rich are you? The highly subjective answer to that will be influenced by your attitude to wealth, income vs spending habits, and where in the country you live. While we quite rightly worry about inequality, Britain's disposable incomes are the most equal they have been in 30 years, but where do you fit in the earnings and wealth scales?

How you can earn £27,000 tax-free: Five steps to make more money and keep hold of it

Personal allowances and how you can earn £27,000 tax free for 2017/18

There are legitimate and important new ways to earn more cash and beat the taxman. Canny money-makers can end up with thousands more in tax free earnings every year than the average UK take home pay. How? Here is our step-by-step guide of what you need to know and do.

As 40 estates a week go unclaimed - here's why you should write a will and how to arrange your bequests for free

As 40 estates a week go unclaimed - here's why you should write a will and how to arrange

The assets of people who die without a will and with no known immediate family are advertised publicly at a rate of around 40 estates a week. The sum total of property, savings and possessions of a deceased person is known as their estate. Those that go unclaimed are listed by the official 'bona vacantia' division of the Government Legal Department.

If someone offers you £112.50 for £50 then you should take it... and that's the good news about pension saving

Why save into a pension? Because it can get you £112.50 for £50

If letters from people's work pensions told them they could get more than £100 for just £50 of their own cash, would they be more likely to take up what's on offer? Among all the bad news on the pensions savings crisis, there is some good news to be told, such as the story of the 28-year-old on track for retirement we featured this week - and the free money on offer.

'I'm 28 and I AM saving enough for retirement': Despite all the bad news you can beat the pensions crisis

Despite all the bad news it is possible to beat the pensions crisis

Toni Leigh Hall is 28 and bucks the trend for people of her age. The young worker, who was made up to look age 65 for a pensions campaign, pictured, started to save two years ago and if she keeps it up, she is on track to have a reasonable income when she retires. We look at what can happen when you do start early.

How long should you fix your mortgage for?

How long should you fix your mortgage for?

Even at a time when we are stretching our finances further to afford a home, moving less, and pushing mortgages beyond 30 years, we still remain captivated by two-year fixed rate deals. Five-year fixed rates offer both historically cheap money and some financial security. And yet, a two-year fix is cheaper. So, when the mortgage industry tempts people in with these teasers they don't need much convincing.

How much money do I need to save for my pension? A quick guide to retirement saving...

How much money do I need to save for my pension?

The amount you can save into a pension ultimately depends on what you can afford - but the longer you leave it the more you will need to save. We tend to put ambitious targets on our hoped-for income in retirement and then underestimate how much we will need to set aside to achieve that. So how much should you save?

I've just started my first job, how can I make sure I get my finances right?

I’ve just started my first job, how do I get my finances right?

With your first job comes plenty of new financial responsibilities. Most people will be getting a lump sum in their bank account every month, sometimes for the first time. Here are some of the things you'll need to think about when it comes to your finances as you start your first job.

How our finances have changed over 50 years: From wages paid in cash on Fridays and tax at 95% to today

Financial life 50 years ago: Wages paid in cash on Fridays and tax at 95%

When the Daily Mail was dropped through Britain's letter boxes on Wednesday September 28, 1966, it contains a new feature called Money Mail. Our first headline was: 'You slaved for your savings - now make them do the same for you.' The aim was to help ordinary families make more of their money - just like it is today. We look at financial life back then and how it has changed.

The one bit of financial advice you'd give to an 18-year-old: The 12 tips from readers that beat experts' efforts, says SIMON LAMBERT

SIMON LAMBERT: Twelve of the best money tips from our readers

This week we featured the advice that a bunch of experts said they would give an 18-year-old, but it was our readers' money tips in response that stood out. I've picked my favourites. They range from simple life rules, to some short practical advice on money-saving, credit cards and investing in your future.

My new company enrolled me in a pension scheme, how much will it really cost and is it worth paying in such a small amount?

How much will my work pension cost and is it worth paying in a small amount?

I am 24 and have started a new job paying £23,000 and my company wants to enrol me in the pension scheme. It offers to match what I put in up to 5 per cent of my salary but I'm worried that even though that's a small amount I can't afford this. How much will it cost me and is it worth doing for such a small amount?

How to look after loved ones when you're gone: From wills to trusts and lasting power of attorney, the essential things you need to know and do

From wills to lasting power of attorney, the essentials to protect your family

There are only two things certain in life - death and taxes. Yet despite these unavoidable truths more than two-thirds of us fail to do the sensible thing and write a will. We reveal what you need to know about wills, inheritance and the importance of lasting power of attorney

Why bother saving into a pension? Here's the advice I gave to my own sister, says SIMON LAMBERT

Why bother with a pension? The advice I gave my own sister

How do you get people to start saving into their pension early? This is a question that vexes the state, policymakers and the pension industry. It also landed with me this week when my sister asked about her new job's pension. On the basis that the advice I'd give my own sister is the best I can come up with, I will share it here.

How to track down a lost pension: Think you may have one from an old job or personal scheme? Be prepared for a hunt

How to track down a lost pension: Think you may have accumulated through an old job or

Losing track of an old pension is surprisingly easy. Unlike a tenner that slipped down the back of the sofa, it won't just reappear, so you'll need to put in some effort. One of the first questions to ask is whether you have actually lost the pension at all. You may have a certificate or payslips showing you've paid money into an occupational pension scheme.

Are your savings safe? How to protect your hard-earned cash

How to protect your savings

Saving is important but so is making sure you are up to scratch with the rules on compensation in case your bank or building society fell on hard times. Provided your money is in a UK regulated bank or building society account, it should be protected under the Financial Services Compensation Scheme, meaning up to £75,000 per person, per financial institution, is guaranteed. We explain what you need to know.

Obsessed with property prices: How can I find out how much my house is worth without using an estate agent?

How can I find out how much my house is worth without using an estate agent?

If you're curious about finding out what your property's worth, there are plenty of websites and online tools to do it yourself. But can you get an accurate valuation of your home without getting an estate agent round?

'I was fearful of the future - now I'm comfortably off': How a good financial adviser can help you sort your retirement

How a good financial adviser can help you sort your retirement

Everyone remembers 2008 as the year when a financial storm hit the country, bringing some of the biggest banks to their knees and plunging Britain into recession. But Angela Healy, sitting outside her beach hut in Teignmouth, Devon, looks back on 2008 as the year she finally put to bed the crises crowding in on her life.

I want to start saving money, how can I decide on the best savings account to open?

How can I decide on the best savings account to open?

I have recently started a new job and have decided to get into the savings habit. I want to set aside some money every month that I don't intend to tap into but might need for a rainy day fund. Where is the best place to save it?

Who should you get to write your will - and what do you need to put in it?

Who should you get to write your will and what do you need to put in it?

Have you made a will? If not, you're not alone. More than half of adults in the UK don't have one. Yet it's relatively simple and there are plenty of options. So how do a solicitor, a will-writer and a DIY kit stack up - and what do you need to consider?

My employer wants to put me into a pension scheme, should I join it?

My employer wants to put me into a pension scheme, should I join it?

Until recently, company pensions were the preserve of a privileged minority but a government initiative now means that all employers must set up a scheme and automatically enrol all eligible employees. So should you embrace it or opt out?

Five questions you need to ask yourself to get the best mortgage

Five questions you need to ask yourself to get the best mortgage

It is hard to walk down a high street or open the finance pages of a newspaper without seeing big adverts showing the latest mortgage rates on offer. Behind the glossy adverts are a whole raft of hurdles you will have to jump over before getting a mortgage. We explain what you need to know.

How much can you afford when buying a home? Fulfil your property dream without overstretching

How much can you afford when buying a home?

'How much can we afford?' That is the crucial question most homebuyers will ask themselves, whether they are taking their first step onto the housing ladder or trying to climb further up it. Successfully buying a home isn't about getting the biggest mortgage possible, it is also vital to avoid overstretching. We reveal how to work out what you can afford

The trick to using a credit card to improve your finances and get a mortgage: How cards work and when to use them wisely

How credit cards work and when to use them wisely

Credit cards can be a useful money-saving tool if you follow the rules. They can help you spread the cost of purchases over time and improve your credit rating and chance of getting a mortgage.

Eight simple but important lessons about money - what would you teach people?

Eight simple but important lessons about money

From banks to credit card firms, fund managers and shops, there are a lot of smart people whose job it is to try and take your cash off you. Learning more about money is a good way to keep hold of it and make more of it. Here are some simple but important things I'd teach people about money. What would you suggest?

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