44% Of People In The South West Do Not Have An Up To Date Will
Latest research by the Law Society has revealed that 44% of people in the South West do not have an up to date will.
Changing circumstances are not always reflected in a person’s will, meaning that parts of the deceased’s estate will not be passed onto family and friends, says the Law Society.
The research also revealed that 22 per cent of respondents over 65 in England did not know if they had an up to date will, while 42 per cent of those widowed, divorced or separated did not know if they had an in-date will.
At the other end of the age scale 84% of 25 – 34 year olds do not have an up to date will.
The research conducted by GFK on behalf of the Law Society shows that thousands of people risk leaving loved ones with nothing after their death because they do not know the contents of their own will, warns the Law Society.
Tricia Wass of south west law firm Foot Anstey said “Making a will is the best way to ensure that your wishes are followed to benefit those nearest to you.
“It is one of the most important documents that you ever sign and a key investment for the future.
“Wills need to be kept regularly under review as your family and financial circumstances change.”
The Law Society points out that a number of circumstances could require a change being made to an existing will, including:
- Divorce or separation
- Selling of an asset, such as property
- Purchasing a large asset, such as a second home
- Having children
- Debt
- Starting a business
Andrew Holroyd President of the Law Society says: “When circumstances change, you should contact your solicitor to see if you need to review your will. When someone is in the process of a major life changing event, such as moving into a new home, or getting married, often the last thing on their mind is their will. However, it should be a high priority. Do not let it gather dust.”
Friday, 20 June 2008
