Will writing for businesses as a benefit

A will can be used for retention purposes to show that the employer cares about their staff, especially for the long term employees where pay increase and promotion has been restrained. Many companies are looking for ways to reward their employees without attracting huge costs.

Phoenix Cymru proposes to work with employers and offer a unique service that is generally not offered by any other company in England and Wales.

Companies can choose one of four options:

Option 1

The employer signs up Phoenix Cymru by means of a contract to buy training/HR consultancy, hence the costs are offset as business expenses and will be listed on the P11D.

This option allows the employer and employee to enjoy the benefit without being liable for taxes.

The employer is charged for the number of wills written at the end of each month.

The employer can choose whether to pay for just the employee or include the employees spouse or partner; an option which can be managed by agreement and may be suitable for senior staff only.

Option 2

Where the employer does not want to pay for the service directly, by endorsing Phoenix Cymru the management team can show the employee that they care about them and their families by inviting Phoenix Cymru to present to the staffs the benefit of having a will. By using internal communications such as internet, intranet or flyers backed up with workshops the opportunity will be presented to all staffs who can decide whether to take this opportunity or not.

Option 3

Employers can opt for inviting Phoenix Cymru to present to the staff or simply allow for information to be disseminated to all employees thus supporting the individual in their workplace as well as family life.

Option 4

Employers who wish to support their staff can also utilise a voucher system which shares the costs between employer and employee.

Multiple locations within England and Wales can be catered for. Outside of these areas wills pertaining to local laws must be used.

Publicity

If a member of staff is mortally wounded whilst at work there will normally be a board of enquiry to ascertain the cause of the accident and take measures against future risks. In this day and age the press will be quick to condemn any employer and as a consequence negative publicity will follow, this could also result in loss of value of stocks and shares or negative public perception in the marketplace resulting in direct damage to business.

By offering a will service companies will be seen to be caring and those left behind will speak more highly of the company.

Costs of using a will as a benefit

By offering a single will or combined with an Advance Directive (Living will) the employee's family and friends will be supported. This is a cost effective way of adding to the benefits that are already in place.

A single will is charged at £75 and a Living will a further £75 unless bought with a single will then the price is reduced to £125.00 for both.

The will will remain the property of the employee as is any pension scheme.