He said: “There’s a popular misconception that estate planning is only for the rich; it’s not. For many people, the word ‘estate’ conjures up images of mansions and sprawling grounds, but, firstly, you don’t have to be wealthy to have an estate, and secondly, estate planning is not just about finances – it is about ensuring your wishes are met.
“Anyone who has any assets at all – a home, car, any savings or investments, pension funds, digital assets – has an estate, and if you want to have a say in how your estate is handled when you have passed away – or become incapacitated – you need an estate plan.
“Estate planning is a specialist area, which if executed well, will have a meaningful impact on your family’s financial and emotional wellbeing.
“Accountants, solicitors and financial advisers are all able to help, particularly those that are members of Society of Trust and Estate Practitioners (STEP), so it is best to seek advice.”