Over half of Britons do not have a will
11/09/2014
New research has found that 28.7 million British adults have not yet written a will.
The study, conducted by unbiased.co.uk, shows more than half of the population has not yet written a will. This leaves the sorting out of assets to the state, which can mean months of delays and inconvenience before loved ones are told what will happen. These are known as intestacy rules, and even though they are being improved slightly from next month, they still remain complicated and can mean months of delays. There is also less chance of your assets being handled the way you want, and no chance of being able to donate to a charity if you so wish. If you choose to leave money to charity, this can cut your tax bill, which could leave family with less of a financial headache.
Many people say cost and complexity is the reason they have not yet written a will. Karen Barrett, chief executive of unbiased.co.uk, has said that will writing can be done very simply with the help of a professional, and is worth doing so you know exactly what will happen to your assets when you pass away. She said;
“When it comes to writing a will, procrastination rules for too many, with most believing they should make their will when they are older. Those with wills are often unaware they can register their will too, which ensures loved ones will be able find your will when you are no longer around. We are working to raise people’s awareness of the importance of writing and registering a will. It is never too soon to make a will and it will provide you with the knowledge and peace of mind that your family will be protected and secure.”
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