New research has revealed that over half (52%) of UK adults over 30 don’t have a Will, and an additional 13% who do have a Will admit that it needs updating. Richard Neea and Lisa Flavell, Partners at Enoch Evans Solicitors, are urging local residents to take action to ensure their affairs are in order.
The research, conducted by Censuswide on behalf of The Association of Lifetime Lawyers, also found that nearly one in ten (9%) UK adults have started making a Will but haven’t completed it, leaving their estate and loved ones at risk.
Without an up-to-date Will, your estate Will be distributed according to the intestacy rules. These rules prioritise specific family members regardless of your personal relationship or wishes. This could lead to unintended consequences and potential disputes among loved ones.
The Association of Lifetime Lawyers represents a community of the most qualified legal professionals in the UK, supporting people making key decisions about their lives.
Lisa Flavell warns that not having an up-to-date Will can have serious consequences for your loved ones.
Richard Neea, Partner and Head of the Wills, Tax and Probate Department at Enoch Evans Solicitors also says: “Without a valid Will, your assets may not go to the people you intended, and your family could face lengthy legal battles and additional emotional distress, during an already difficult time. It could also mean your loved ones face a higher inheritance tax bill.”
“Life changes quickly, so it’s best practice to review and update your Will every five years or when a major change in your life occurs that impacts you or your loved ones. This includes marriage or civil partnership, divorce or dissolution of a civil partnership, the birth of a child, the death of a family member, or if you or one of your beneficiaries has obtained a Gender Recognition Certificate.”
“Updating your Will ensures that your estate is distributed according to your wishes and provides peace of mind for you and your loved ones. Seeking advice from an experienced legal professional is best, as they can offer guidance on your unique situation and help minimise inheritance tax where possible.”
