The Alarming Statistics of UK individuals who have not made a Will

Making a will is a critical step in ensuring that your wishes are honoured after your passing. Despite its importance, many individuals in the UK continue to delay or ignore the process entirely. The consequences of not having a will can be profound, leading to unnecessary stress and financial complications for your loved ones. Recent statistics reveal a worrying trend about the state of will-making in the UK, shedding light on the reasons behind this reluctance and the potential consequences.

According to a 2021 survey by the Law Society approximately 1 in 3 adults in the UK have not made a Will.

The Impact of not having a Will

• Intestacy and Legal Complications

Without a Will, your estate will be distributed in accordance with the laws of intestacy. These laws determine who inherits your estate which may not reflect your desires.

• Financial Strain on your Loved Ones

Without a Will, the administration of your estate can become lengthy and costly. Without a Will this can often cause delays on the distribution of your assets and delays on confirming who the beneficiaries are that will inherit from your estate which could incur additional legal fees.

Why do so many people avoid making a Will?

There are several reasons why a large amount of people hold back on making a Will. Many people view making a Will as something you prepare later down the line when they are older, however, it is always advisable that you prepare a Will when purchasing your first property. Some individuals may underestimate the importance of having a Will and may wait until events such as marriage or the death of a loved one.

Death is a sensitive subject and thinking about this may be uncomfortable for many people. Many people avoid making a Will as a result of this and neglect and put this on hold until the future.

Who are most likely to avoid making a Will?

Research shows that individuals aged 18-34 are less likely to have written a Will. Many people in this ages group feel like they have plenty of time to talk about this subject and it is often viewed as something reserved for older individuals.

The Benefits of Writing a Will

• Writing a Will gives you the ability to specify where you wish for your assets to pass to on your death;
• Parents of young children to appoint guardians to look after their children under the age of 18 years;
• It gives clear instructions about your estate which can reduce conflicts between family members;
• It allows you to plan your estate in a way which may reduce inheritance tax liabilities.

How can Taylor Bracewell help you in writing a will?

Our Wills, Probate and Trusts team have a wealth of experience in will writing and advising people on this matter. If you would like to make a will, contact our team of Doncaster solicitors on 01302 341414 or our team of Sheffield solicitors on 0114 272 1884. Alternatively, you can fill out our online enquiry form.