𝟱𝟲% 𝗼𝗳 𝗨𝗞 𝗮𝗱𝘂𝗹𝘁𝘀 𝗱𝗼 𝗻𝗼𝘁 𝗵𝗮𝘃𝗲 𝗮 𝘄𝗶𝗹𝗹 – that’s the headline figure from a report earlier this year by The National Will Register on will writing in the UK.
Just over 1,000 UK adults took part in the survey and the responses were revealing. Interestingly, this figure corroborates other studies on this subject, such as that undertaken by Canada Life last year. It would seem that any increase in demand seen as a direct result of COVID has ceased.
Three other interesting stats from the report that stood out, including:
- 7 in 10 of those that had a will used the services of a solicitor or dedicated will writer. However, the use of online options is on an upward curve, particularly with the younger generations.
- Men more likely to have a will than women.
- That the phrase “𝘵𝘰𝘰 𝘮𝘰𝘳𝘣𝘪𝘥” appears in the report on more than one occasion. Example: “6% of people that didn’t have a will felt it too was too morbid to consider”.
Perhaps most worrying is the fact that 42% of UK adults have not spoken to anyone about what should happen to their estate upon their passing.
The ‘Baby Boomer’ generation is estimated to pass on around £5.5 trillion when they die, a phenomenon which has been labelled as the ‘greatest wealth transfer in UK history’. All things considered, are we heading toward a ticking inheritance timebomb?
View the slideshow below highlighting some of the other key points taken from this insightful report.
Anyway, what has this all got to do with a Probate Genealogy firm? Well, a probate genealogist can of course assist in cases where there is a will AND where there is not.
𝗪𝗶𝘁𝗵 𝗮 𝘄𝗶𝗹𝗹: We can trace missing beneficiaries that have been named in a will but can’t be located, whether that’s a more straightforward address check or where our research does international.
𝗪𝗶𝘁𝗵𝗼𝘂𝘁 𝗮 𝘄𝗶𝗹l: We are extremely well-versed in dealing with intestate matters. We can offer probate practitioners help and assistance, whether that’s verifying a family tree and establishing entitlement, providing estate distribution guidance, or giving other support and guidance around the rules of intestacy.AR Version - National Will Register Report 201123
A link to the full National Will Register report can be found here:
You can read more about this over on Joe Lander’s LinkedIn Post.
This article was submitted to be published by Anglia Research as part of their advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.