More than half the UK population – 29.6m adults – do not have a will, including 36% of the over-55s.
Research by Canada Life found that overall 56% of UK adults do not have a will.
The provider is publicising the shortfall to remind the over 55s they can take advantage of ‘free wills month’ this month, if their affairs are simple, by contacting a participating solicitor who will draw up a simple will or update an existing will at no cost.
Research by Canada Life uncovered that:
• 56% of UK adults have not written a will, which equates to 29.6 million people
• 36% of the over 55s have no will
• 8% of adults have written a will since the first pandemic lockdown in March 2020
The research found that about one in 10 people (8%) have written a will for the first time since the initial pandemic lockdown in March 2020, and a further 14% have changed or update their existing will in the last two years.
Andrew Tully, technical director, Canada Life, said: “A valid will is an incredibly important part of a life plan and will ensure should the worst happen, assets, whether they be financial or possessions, will be distributed in an orderly fashion to the right beneficiaries. A will is a very powerful document which will hopefully avoid legal wrangles and confusion over who will benefit from estates. People can also leave a gift to charities of their choosing.”
Details of solicitors offering free wills: https://freewillsmonth.org.uk/
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