Over half of the UK public find the concept of writing a Will a taboo subject. Either they are too worried to confront their mortality, too financially constrained or simply perplexed by the process; this means that over half of us are moving through life without any Will at all.
A recent report, by Royal London, has found that over 5.4 million UK adults not only do not have a Will, but would not know where to start if they were to write one; highlighting a clear consumer misunderstanding and confusion around this crucial process.
This lack of clarity continues with adults that have already made a Will. The research indicated that 31% of the respondents, that had made a Will in the past, had also just lived through a significant life event like marriage or having a child. However, 53% had failed to update their Will following these monumental and life changing events.
Astonishingly, 59% of parents surveyed either had no Will or were still using an out of date Will because of the life events that had changed their circumstances.
According to the research, 54% of the adult population do not have a Will at all whilst there is a significant percentage that have failed to update their Will. Almost a quarter (24%) of the population do not have any plans to make a Will with 34% of the population clear that only a serious illness would force them to plan for those they will leave behind.
Reassuringly, 68% of those that have made a Will or intend to make a Will would choose to use a qualified Willwriter or solicitor.
When a Willwriter is dealing with such a reluctant section of UK society, it is imperative that they are able to highlight their experience, expertise and quality service offering to the consumer.
Members of the Institute of Professional Willwriters (IPW) and Institute of Scottish Professional Willwriters (ISPW) are trusted by both the public and regulatory bodies. The Chartered Trading Standards Institute Code of Approval badge emphasises the trust the CTSI have placed in the Institute. A trust that could be the differentiator between an Institute Member acquiring the business or being overlooked..
Similarly, displaying the badge will highlight the trustworthy, reputable business Institute of Professional Willwriter’s Members have developed.
Joining the IPW or ISPW will open up your business to a well-respected and extremely supportive organisation that is expertly equipped to help unburden the 5.4 million people of their Wills and Estate Planning anxieties.
