Why will writing should be part of every employee's financial wellbeing plan

Employers are investing in support that helps employees manage everyday finances but one important aspect of financial planning is often overlooked: having a valid will in place.

Most people recognise the importance of writing a will, but many never get around to doing it. Life is busy, and conversations about what happens after we're gone can feel uncomfortable.

The reality is that having a will is not just relevant to older individuals or those with significant wealth. Anyone with dependants, property, savings, investments or personal possessions has decisions that may need to be made about their estate. Having those wishes recorded can help create clarity and certainty for loved ones at a challenging time.

A common misconception is that everything will automatically pass to the people an individual would have chosen. However, where no valid will exists, estates are generally administered according to statutory rules rather than personal preferences. While every family's situation is different, the outcome may not always reflect what the deceased would have wanted.

The consequences are not solely financial. Family members may face additional administration, delays and uncertainty while trying to navigate a complex process during a period of grief.

For employers, this represents an often-overlooked element of financial wellbeing. Financial resilience is about far more than day-to-day money management. It is about helping employees put plans in place that protect themselves and the people they care about, both now and in the future.

Despite the benefits of having a will, many employees still face barriers to taking action. Some assume the process is expensive or complicated. Others do not believe they have enough assets to make a will worthwhile. In many cases, people simply do not know where to start.

Wills are often the first step

While much of the focus is understandably on will preparation, many employees may also benefit from understanding the role of a Lasting Power of Attorney (LPA). Although serving a different purpose, both are designed to help ensure important decisions can be managed according to an individual's wishes if they are no longer able to make those decisions themselves.

In many ways, an LPA addresses a challenge that can arise during our lifetime rather than after death. If illness, injury or declining health affects someone's ability to make decisions, having the appropriate arrangements in place can help provide clarity and support for both the individual and their loved ones.

Recognising the importance of both forms of planning, Everest's Will Prep service supports employees not only with will preparation but also with Lasting Powers of Attorney. By simplifying processes that are often perceived as complex or time-consuming, the service helps employees take practical steps to put important arrangements in place, reducing the administrative and emotional burden that can otherwise arise during difficult circumstances.

Access to practical tools and advice

Together, wills and LPAs can form part of a broader approach to financial wellbeing, helping employees gain confidence that important arrangements are in place both for the future and for the unexpected challenges life may bring.

This is where employers can play a valuable role. By providing access to practical tools and support, organisations can help remove some of the friction that prevents employees from addressing an important aspect of their financial planning.

Everest's Will Prep service was developed to make will preparation more accessible and less daunting. By simplifying the process and removing many of the common barriers associated with getting started, it helps employees take meaningful steps towards getting their affairs in order and protecting the people who matter most.

Legacy of financial preparedness

Ultimately, writing a will is one of the simplest ways individuals can help protect their loved ones from unnecessary stress and uncertainty. While no amount of planning can lessen the emotional impact of bereavement, having clear wishes documented can help make an already difficult time easier to navigate.

As employers continue to evolve their approach to financial wellbeing, will preparation deserves a place in the conversation. It may not be the most talked-about employee benefit, but for many families it could prove to be one of the most valuable.

After all, financial wellbeing is not only about preparing for retirement or building financial security. It's also about ensuring that, should the unexpected happen, the right people can support us while we're alive and our wishes can be carried out after we're gone.