63% of Britons don’t have a Will
Nearly 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 writing a Will.
The main triggers for people writing a Will are said to be childbirth (18%), reaching a landmark age (15%), marriage (13%) or taking out a mortgage (12%). Divorce is also a factor for revisiting a Will!
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 a Will 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.”
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