Almost Three Quarters Of 18 to 54-Year-Olds Do Not Have a Will
30th October 2014
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The research by The Law Society shows that 73 per cent of 18 to 54-year-olds have not made a will compared to only 36 per cent of people over the age of 55.

 

The findings come just weeks after changes to intestacy law came into force, aimed at making it easier for many families when a loved one dies without making a will.

 

But even the Inheritance and Trustees Powers Act 2014 makes no provisions for unmarried couples, with the surviving partner still receiving nothing if their loved one has not made a will.

 

And if no relatives are found who are entitled to the estate under intestacy rules, then the estate goes to the Government - a total figure amounting to around £8million in 2013.

 

Edward Rees, head of the Wills and Estates team at Lanyon Bowdler Solicitors, said the Law Society report was “concerning”.

 

“The fact that almost three quarters of people aged 18 to 54 in the UK have not made a will is quite a staggering figure,” he said.

 

“Despite the Inheritance and Trustees Powers Act bringing about the biggest changes to intestacy law since the 1970s, making a will is the only way that you can guarantee your assets go to your loved ones after your death.

 

“It makes no provision for couples who have not married or entered into a registered civil partnership and in those cases, dying intestate means your estate would go to children or family and not the surviving partner.

 

“It is something that people often put off but it is not usually a difficult thing to do and I would urge everyone to take the time to make one.

 

“Whatever your age or marital status, it is worth doing. For instance, if you’ve just bought a house or just had a child, then it really should be top of your list.

 

“It is also incredibly important where there have been second marriages, with children from previous relationships.”

 

Edward added that contacting a solicitor to help make a will ensures its clarity and validity.

 

“Making a will yourself, especially if you have complicated finances or several beneficiaries, could cause further stress for your loved ones if it is deemed invalid after your death,” he said.

 

“Getting help from a professional will ensure that your will is valid and that your express wishes are carried out with the least pressure on those left behind.”

 

For more information on making a will, visit www.lblaw.co.uk or call Lanyon Bowdler Solicitors on 0800 652 3371.

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