New research by Will Aid has revealed that around 50% of Britons have not yet made a will, meaning they have no control over their assets after they die. Peter de Vena Franks, the Will Aid campaign director, said: “A will tells your loved ones who should have your money, property and possessions when you die and who will be in charge of following your instructions - your executor. Without this information, the law decides how your estate is passed on – and this may not be in line with your wishes”.
Carrying Out Your Wishes
35% of those without a will have children under the age of 18. If they died without explicitly stating in a will who they wish the guardians of their children to be, there would be no legal way of fulfilling the deceased’s wishes. There are lots of other complications if you die without a will, and we have looked at what happens to your money if you die intestate. Young people are the least likely demographic to have a will, but surprisingly 19% of those over the age of 55 have also yet to write one.
Will Aid Month takes place every November, aiming to raise awareness and encourage people to write their will. You can find out more about Will Aid Month here.