New research from a leading national charity has revealed that almost two thirds of UK adults have yet to prepare a Will.
The figures, which were released by Macmillan Cancer Support last month, show that 42 per cent of people over the age of 55 have yet to set their affairs in order.
A survey of 2,000 people also confirmed that a sizeable proportion of people have unwittingly made their Will void by getting married. Divorce can also have an impact on existing Wills.
Other common oversights included failing to update a document after entering into a new relationship or following the arrival of children or grandchildren.
Craig Fordham, Macmillan’s director of legacies, said: “This January, Macmillan wants to help people take charge of their Will and think about the type of legacy they want to leave behind.”
The start of the year is the traditional time for New Year resolutions. Everyone should review their personal circumstances regularly; those who have not made a Will should seriously consider making one and those who already have a Will should check whether it still reflects their current wishes. There have been recent changes in available Inheritance Tax exemptions which may not apply if the Will is not appropriately drafted.
Previous research by the charity found that people’s top reasons for not having a Will included having not got round to it (41 per cent), feeling they owned nothing of value (26 per cent) or that it was something they would consider when they were older (21 per cent).
Carter Lemon Camerons LLP Solicitors is a City law firm which provides Wills and probate services with a personal touch to its clients – that go beyond the simple drafting of documents. Unlike many City practices we are happy to act in smaller private legal matters, bringing the same care and consideration as we do to large commercial matters. If you require advice on making, defending or contesting Wills, please contact Neil Acheson-Gray or Ian West.