As 2026 progresses, a significant shift in New Year resolutions is emerging across the UK, with more individuals moving beyond traditional fitness or lifestyle goals to focus intently on organising their personal financial affairs. For those in later life, this trend is particularly pronounced, with a strong emphasis on securing a lasting legacy that safeguards loved ones from unexpected financial pressures and emotional burdens.
Survey Highlights Financial Management as Top Priority
Recent research from YouGov supports this evolving mindset, revealing that financial management now ranks among the foremost resolutions for retired people. Practical actions, such as thoroughly reviewing insurance policies, meticulously checking bank accounts, updating wills, or considering comprehensive funeral plans, are being recognised as crucial steps that can deliver meaningful, long-term benefits for families.
The Rising Cost of Dying and the 'Will Gap'
Forward planning has never been more critical, especially against a backdrop of escalating living costs that strain household budgets. New data from the 2026 SunLife Cost of Dying Report underscores this urgency, showing that the average cost of an attended funeral has now reached £3,828. Alarmingly, many families find themselves underprepared, forced to bridge an average shortfall of £2,365 between their savings and the final bill.
Despite these clear financial risks, industry reports indicate a persistent 'Will Gap', with 31% of people over 55 still lacking a valid Will. This oversight places nearly £300 billion in assets at risk of being distributed under the UK's rigid intestacy laws, rather than according to personal wishes.
Consequences of Dying Intestate in 2026
For the 31% of over-55s without a Will, dying 'intestate' in 2026 means assets are allocated by strict government rules, which can lead to unintended and often distressing outcomes:
- Unmarried partners: Regardless of the length of cohabitation, they have no automatic right to inherit anything.
- Stepchildren: They are entirely excluded from inheritance unless legally adopted.
- Spouses and children: For estates exceeding £322,000, the spouse receives the first £322,000 and personal effects, with the remainder split equally with children, potentially forcing the sale of the family home.
- The Crown: If no living blood relatives are found, the entire estate passes to the Government under Bona Vacantia rules.
Emotional and Practical Benefits of Preparation
Peter Shuttleworth, general manager at Celebration of Life, emphasises the dual advantages of getting affairs in order. "Getting your affairs in order is a liberating experience," he says. "It removes uncertainty, reduces stress, and is ultimately the best possible gift individuals can give their loved ones." By addressing legal and end-of-life matters proactively, individuals can regain a sense of control and confidence during uncertain times, making organisational planning one of the most meaningful resolutions of the year.
Navigating Probate Delays and Modern Solutions
In 2026, probate delays continue to pose significant challenges for grieving families, with paper applications taking up to 13 weeks to process. Transitioning to digital applications can reduce this wait to just five weeks, highlighting the importance of maintaining modern, accessible documents to streamline the process.
Key Steps for Effective Financial Planning
To mitigate risks and ensure peace of mind, experts recommend focusing on several core areas:
- Planning ahead: Ensure an up-to-date Will is in place and consider establishing a Lasting Power of Attorney to avoid costly court fees.
- Money and finances: Regularly review bank and savings accounts, pensions, and investments, verifying that all beneficiaries are correctly listed.
- Funeral and personal wishes: Reflect on and document funeral preferences, which can save families over £300 in 'guesswork' costs and provide clarity during difficult times.
This growing focus on financial and legacy planning in 2026 reflects a broader societal shift towards preparedness, offering both practical security and emotional relief for individuals and their families across the UK.
