6 out of 10 don’t have a Will – new research findings
Foresters Friendly Society and the survey firm ICM Direct have found that a shocking 61% of people have not made a Will
, and out of those who have, one in ten have not told loved ones where it is.
The survey has also shown that out of those with a Will, one in eight haven’t reviewed it for over 10 years, and that 46% of parents with children under the age of five who do have a Will haven’t reviewed it in those five years. More worrying, two thirds of parents with children under the age of five don’t have a Will at all, and half of those aged between 55 and 64 also have not taken this essential step.
The study shows that an alarming number of people are relying on self-written Wills
, that a quarter of people have never even thought about writing a Will
and that 23% thought they were too poor to have a Will.
Inevitably it is children of all ages who would be most affected if their parents were to die without a Will. Neil Armitage, marketing director for Foresters Friendly, said: "Our research has shown that British people are not planning for a future without themselves
in it. It is a great risk to run when the fate of young children and a great deal of money is at stake.”
The survey did find that 80% of people would prefer to make a Will in a face-to-face situation with an expert advisor and a spokesman for Edinburgh-based IFA firm Wealthflow said: "Ultimately it is a good idea to get advice and to make a Will. It makes things easier for beneficiaries suffering from bereavement".