Banking from beyond
What happens to your money after you die? That’s the somewhat morbid topic tackled in The Irish Times this week by Fiona Reddan, who queries what happens to your bank account, loans and other financial affairs once you shuffle off this mortal coil. “For most people, sickness will take them in their old age, which may give plenty of time to prepare. For others however, death will come in their prime, leaving devastated families, and potentially finances, behind,” Reddan writes.
There are lots of interesting facts and scenarios – for example, if you keep your savings in a credit union you’ll also be part of a life insurance scheme, with the value of your insurance dependent on the amount of your savings.
Elsewhere, TheJournal.ie reports that Wicklow-based company Avoca has recalled batches of hummus products over the past few days due to fears over the presence of the bacterium Listeria monocytogenes. Consumers are advised not to consume the affected batches and to return the products to Avoca.
“It is not yet known whether these products also contain Listeria monocytogenes, but testing is underway. These products were only sold in Avoca stores where they have been withdrawn from sale and a point of sale recall notice has been displayed,” the Food Safety Authority of Ireland said in a food alert on Tuesday.
Home sweet home
Finally, in a bid to secure a home and a first step on the slippery property ladder, the Irish Independent reports that one in five first-time buyers are turning to their parents to secure enough money for a deposit. That’s according to a report released by the Central Bank, which noted that the average passed from parents to offspring is around €10,000.
“First-time buyers have huge difficulties getting on the housing ladder, due to strict lending rules, but also because there are so few houses being built,” writes personal finance editor Charlie Weston. “The Housing Agency estimates that there is a need for 81,000 homes between 2016 and 2012.”