Households are reassessing long-term financial security following the budget, with a fifth of respondents to a post-budget survey confirming they are planning to make or update their will following the chancellor’s announcements.
The survey of 2,500 adults by national law firm Shakespeare Martineau revealed the budget prompted 21% of respondents look at their estate planning in light of the changes, with a higher percentage of younger people getting their affairs in order.
The likelihood of updating was particularly pronounced among 25-34-year-olds (29%) and 35-44-year-olds (29%), compared with 24% of 45-54-year-olds.
“Younger adults and those in full-time employment appear most motivated to act, reflecting a growing awareness of the importance of having clear plans in place,” Suzanne Leggott, partner and head of private wealth at Shakespeare Martineau, said.
Men were slightly more likely to make or change a will following the budget, with 25% of respondents compared to 23% of women. Employment status also plays a role, with 31% of full-time workers planning to act, compared with 19% of part-time workers and 17% of retirees.
“The autumn budget has led many people to take a fresh look at their long-term financial arrangements and wills are a key part of that planning,” Leggott added.
One Response
We have seen an huge upturn in enquiries since well before and post the Autumn Budget. We ran a TikTok live session and our research suggests that Estate planning isn’t just about wealth, it’s about stewardship, resilience, and protecting what matters most. Encouraging to see younger generations leading the way. Legacy planning starts today, not tomorrow.