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Study reveals that majority of Britons haven't made a Will

October 2014

Research published this week by the Law Society, the representative body for solicitors, reveals that the majority of Britons have not written a will. The research revealed that 73% of 16 to 54 year old don’t have a will.  Men were more likely to have a will and keep it updated than women.  The two main motivators for people writing a will are that they have seen the consequences of not having one and ‘feeling old enough’.

The Law Society warned that consequences of dying without a will can be devastating for those left behind.  Last year £8m went to the government because people died intestate.  It is estimated that by 2018 the government will receive nearly £6bn from inheritance tax.  Advice from a solicitor and a well drafted will can reduce or alleviate altogether the amount of inheritance tax payable.

Follow this link for more advice on Making a Will.

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