63% of Britons have no will
30th January 2012Nearly two-thirds of Britons (63%) do not have a will – with many people employing a “head-in-the sand” approach to them, according to a new study.
Investment managers Brewin Dolphin found that 57% of married couples do not have a will, meaning they would have no control over their houses, savings or possessions if either of them were to die without creating one.
The main triggers for people creating a will are said to be childbirth (18%), reaching a landmark age (15%), marriage (13%) or taking out a mortgage (12%).
The sudden death of a friend or family member can prompt people to draft a will, and did so in 11% of the cases in the study.
Meanwhile, factors which were found to delay people writing their wills are: not thinking they have enough assets or possessions to make it worthwhile (30%), thinking they are too young (24%) or simply seeing it as not important at the present time (another 24%).
A total of 13% think the idea is just too morbid to think about.
Charlotte Black, Head of Corporate Affairs at Brewin Dolphin commented: “Will making should definitely be on the 2012 resolution lists for 63 percent of British residents.
“If they didn’t have one and died suddenly, their estate could go to a relative who they wouldn’t necessarily choose to benefit. The research shows many people deploy a head in the sand approach to wills.”
For advice on issues relating to wills, trusts, probate and tax and estate planning, contact our specialist team, call us on 01494 790007 or email enquiries@ibblaw.co.uk.
