The penny drops podcast: Why planning for death is so important

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In this episode of 'The penny drops', our host Andrea Fox joins finance journalist and BBC broadcaster Guy Kilty to talk end-of-life planning and why it’s important to think about it early on.

What will we be talking about?

No one likes thinking about death. But this month we’ll be speaking about how a bit of preparation and having some plans in place early on can make a big difference to you and your loved ones further down the line. The episode will answer:

  • Why is end-of-life planning important to think about?
  • What are the top things to consider when planning for death?
  • Why should we have a will?
  • How do you make one and how much does it cost?
  • What should we include in a will?
  • What happens if you die without making one?  
  • What is Power of Attorney and how does it work?
  • What is an executor and how do you appoint one?
  • How does inheritance tax (IHT) work and who pays it?
  • How can you reduce the amount of IHT you pay?
  • How do you go about planning a funeral?
  • How much do they cost?
  • Is there any help available?

Who is our guest?

Guy Kilty is an experienced journalist, broadcaster and podcaster. He’s delved into all sorts of financial topics – from retirement planning to the money side of football – and currently presents BBC Radio 5 Live's flagship business programme Wake Up To Money, as well as Up All Night and Money Box Live on BBC Radio 4.  

All views and opinions expressed in the podcast are those of the expert and not of Royal London.

Where can you listen?

You can download and listen to episodes using the iTunes Podcasts, Google Podcasts, Spotify or Castbox apps – just search for ‘The penny drops’. Make sure to subscribe so you don’t miss any new episodes, and please do leave us a review. We’d love to know what you think of the series.

If you don’t have access to an app, you can listen to the podcast online. We’ll send you reminders about any new episodes in your quarterly member emails.

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How can you find more information?

Royal London recommends you seek professional independent financial advice before making financial decisions. You can learn more about the value of financial advice on our website, or visit Unbiased to find a trusted professional in your area.

You can also find lots of helpful information about end-of-life planning on the following sites:

Dying Matters
Age UK
NHS
Cruse Bereavement Care
Bereavement Advice Centre
Royal London

Please note that all topics discussed in this episode can vary depending on your personal circumstances. Any figures quoted were accurate at the time of recording (October 2019).