Over half (60%) of UK adults are currently without a Will and new research, issued by Remember A Charity, revealed almost a third (30%) believed that they only need to make a Will if they are very rich.
Nearly two in five respondents (37%) assumed everything will automatically go to their partner and children.
This is worrying news as this misunderstanding of Wills could risk inheritance failing to reach dependants or loved ones.
What excuses do people give for not having a Will? The most popular reason was the procrastinator’s response:
1. I plan to make a Will when I’m older
2. I don’t think I will have any estate/assets left to be worth writing a Will
3. It never occurred to me
4. I can’t afford the cost of setting up a Will
5. I don’t know how to go about writing a Will
Adults in Liverpool are most likely to have made no arrangements, with 73% having no Will, closely followed by Nottingham (69%) and Glasgow (68%). These findings indicated that there are whole cities where the majority run the risk of dying intestate.
What will your non-Will look like?
The large majority (70%) of Brits believe their family will easily agree on how to divide assets between themselves, despite recent figures from the Ministry of Justice showing that inheritance disputes have trebled over the past decade. In a separate survey, 1 in 4 people admitted they would challenge a Will if they were not happy with its contents.
It’s clear that many people think they’re just not ‘rich enough’ to need a Will. This ignores the fact that a Will makes inheritance a far quicker process – do you really want to keep your loved ones waiting longer, when that money might be badly needed? It also doesn’t take into account the complexity of modern families; which intestacy law simply doesn’t address. Very often children from previous relationships could end up receiving nothing at all.
Your Will is your last chance to make your mark on the world. Whether giving sentimental items to family and friends, or leaving charitable gifts, your final wishes help to shape how people will remember you. No-one should miss out on this chance to leave a proper legacy.
Writing a Will is the only way for you to ensure your final wishes are met. But the great news is that, with Barnet Wills, it is a relaxed, quick and easy process.
Contact Barnet Wills today on 020 3189 1737 or email firstname.lastname@example.org