Research finds people are still not prioritising making a Will, despite the pandemic
A new report from market research consultancy, IRN Research, has found that many people are still not prioritising making a Will, especially those under the age of 55.
It also found that the pandemic has had a short-term impact on legacy planning and only drove four per cent of people making a Will last year to do so.
Meanwhile, the researchers raised concerns about people’s understanding of regulation in the sector and warned that Will writing is still an activity which most individuals fail to prioritise.
David Webb, a Director with Mander Hadley Solicitors, who specialises in Wills and probate matters, said: “Writing or updating your Will can provide peace of mind that the assets you have worked hard to build, will provide a lasting legacy for generations to come.
“By leaving a Will you will also be making sure that your affairs are in order, so that your family and friends aren’t left to deal with unnecessary problems.
“In this country around two thirds of people don’t have a valid Will in place and around one third will die without a Will – known as dying ‘intestate’.
“As a result, your ‘estate’, meaning everything you own – your property, investments, savings and personal effects – will pass to your relatives in a strict order of priority that is decided by the rules of intestacy. Dividing up an estate in this way might not be what you want to happen.
“Putting in place an up to date Will and also exploring other estate planning options such as lifetime gifting and trusts enables your legacy to be passed on in the most tax-efficient way.”
David added: “As part of our Will writing service, we offer free registration with the national Wills register, ‘Certainty.’
“Not being able to locate a Will can cause distress and potential financial loss for family or beneficiaries.
“Registering your Will in this way gives you peace of mind that if it is lost, misplaced or forgotten over the passage of time, the location of it can be swiftly identified.”
Understandably, during the current Covid-19 pandemic, many people may wish to keep face to face meetings to a minimum and, with this in mind, we have launched a new online legal service to start the Will writing process.
The online Will service is available 24/7, from the comfort of your own home. Clients still benefit from the high level of personal service our Wills team takes pride in delivering.
And the good news is that there’s no need to wait until the next working day to get started.
Our secure online portal means you can provide initial instructions to our specialist Wills team right now.