Lack of Wills and "Savvy Squirrel"
A staggering 80% of UK adults have not told their families their financial wishes after death, according to a STEP survey, leaving families vulnerable to chaos in the event of a sudden loss—exemplified by Mark and Helen, who narrowly avoided disaster after a life-threatening car crash in 2012. Despite having a business and five children between them, neither had a will, and Helen describes the experience as a wake-up call that led to urgent estate planning. The episode reveals that many people delay or avoid planning due to discomfort discussing death or the misconception that estate planning only matters for the wealthy. Experts stress that even modest assets—homes, pensions, savings—require structured planning, especially in blended families where disputes are rising. Meanwhile, the government’s new 'Invest for the Future' campaign introduces Savvy Squirrel, a cartoon squirrel promoting investing, but faces skepticism: many Brits remain deterred by fear of loss, lack of knowledge, and financial insecurity. Research shows over 65% of UK adults can’t afford a three-month emergency fund, and despite high interest rates, nearly half of those with over £100,000 in savings still keep it in cash. The episode underscores a dual crisis: widespread financial invisibility in death planning and a deep knowledge gap in investing, with experts calling for financial education in schools and accessible, trustworthy guidance for the public.
80% of UK adults haven’t shared their financial wishes with family, risking chaos after death—especially in blended families where disputes are rising.
A will is not optional: even modest assets like a home, pension, or savings require estate planning to avoid financial and emotional fallout.
The government’s 'Invest for the Future' campaign uses Savvy Squirrel to promote investing, but fear, lack of knowledge, and financial insecurity remain major barriers.
Over 65% of UK adults can’t afford a three-month emergency fund, making investing feel risky—even though long-term investing historically outperforms cash.
HMRC now uses bank data to automatically assess savings tax; many people are getting letters demanding payment they didn’t know they owed.
…and 3 more takeaways available in PodZeus
The Hidden Crisis of Unplanned Death
“If we'd lost Mark that day, it probably would have been close to chaos. We'd have had life covered that would have cleared the mortgage, etc. But in terms of there being any buffer beyond that, very little at all.”
Why People Avoid Estate Planning
Experts explain that people avoid planning due to discomfort discussing death, or the false belief that estate planning only matters for the wealthy. But owning a home, having a pension, or savings all require planning.
The Rise of Family Disputes in Blended Families
With nearly half of estate planning experts reporting increased disputes after a death in blended families, the episode highlights how remarriage, stepchildren, and ex-partners complicate inheritance without a clear will.
Savvy Squirrel and the Investment Campaign
“I think really for fear of losing everything, I know that in theory if you keep it long enough you should make more money than leaving it sitting in a bank account.”
The Knowledge Gap and Financial Insecurity
Over 65% of UK adults can’t afford a three-month emergency fund. Despite high interest rates, nearly half of those with £100k+ in savings keep it in cash, showing a deep disconnect between risk and reward.
“If we'd lost Mark that day, it probably would have been close to chaos. We'd have had life covered that would have cleared the mortgage, etc. But in terms of there being any buffer beyond that, very little at all.”
“So ISAs are fantastic because you can put £20 ,000 a year into them and the money grows completely free of tax.”
“I think really for fear of losing everything, I know that in theory if you keep it long enough you should make more money than leaving it sitting in a bank account.”
Host
Guests
Helen
person
Mark
person
Savvy Squirrel
brand
HMRC
organization
Nina Sparing
person
STEP
organization
Dr Ilva Beckstrom
person
Clare Walsh
person
Investment Association
organization
Money and Pension Service
organization
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