 |
| LATEST LATEST LEGAL NEWS ARCHIVE |
LATEST NEWS & EVENTS Brits putting off wills and inheritance planning  Many Brits are putting off wills and inheritance tax planning because they think they are "too young" to bother, new research shows. Almost half (48 per cent) of those aged between 25 and 50 have not yet drafted a will, according to the study from MyVoucherCodes. The website reports that the main reason for not contacting a probate solicitor was that people in this age group felt they were too young , despite many being parents. Mark Pearson, chairman of the website that carried out the survey, said: "I was quite shocked to see that many of the respondents who claimed they didn't need a will were parents, because if you do have children it makes getting a will sorted even more important." Other reasons cited by respondents for not drafting a will included the topic being "too morbid" and that they did not need one. It comes as an investigation is launched into the will writing market following a report from the Legal Services Consumer Panel that revealed many are poorly drafted. Jeremy Tucker of Lamport Bassitt said: "The results of the report are disappointing but not surprising. A number of other reports have also shown the low percentages of people that have made a will. Making a will, and ensuring people know where to find it, is the first step to ensuring that a person's estate is divided amongst the people they intend to benefit. "In the absence of a will, an individual's estate is shared amongst relatives in accordance with a strict order set out in legislation known as the intestacy rules. These rules may not operate in the way people expect." He continued: "What is interesting within the report are the reasons why people are not making wills. The report states 31 per cent believed they were still too young to draw up a Will and 17 per cent claimed they had simply not got round to doing so yet. Furthermore, a total of 24 per cent stated it was 'too morbid' to think about and 22 per cent said they were in good health and therefore did not need one. The remaining nine per cent claimed not to know how to go about getting the document. "Making a will need not be a difficult or a time consuming process. At Lamport Bassitt the private client team are able to advise on all aspects of making a will and inheritance tax planning." Posted by Alex McLean 
Related Articles: 17/5/2012 - Discussing death remains taboo as wills and inheritance tax planning suffers 11/5/2012 - Queen's Speech legal reforms welcomed 4/5/2012 - Create Lasting Power of Attorney before it's too late 2/5/2012 - Support for will writing regulation grows 25/4/2012 - Inheritance tax planning could net £450m a year in savings More Individual Legal Services News |
|||
| © 2012 Lamport Bassitt | DEFAULT ZOOM | DISABILITY INFORMATION | LEGAL INFORMATION |