Over four in ten people have no will, financial services provider reports

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Tue, 20 Feb 2007

More than four in ten people in the UK do not currently have a will, according to the latest research, meaning that their estate may not be passed on to the correct people should they pass away.

Figures from Saga Will Writing and Estate Planning Services indicate that 42 per cent of UK adults do not have a will at present.

Moreover, it appears that even those people who have previously arranged a will with a financial services provider may not necessarily see their present wishes carried out.

Approximately two million adults are believed to have changed their marital status without revising their will, in spite of the fact that getting married automatically revokes an existing will, the financial services provider points out.

Andrew Goodsell, chief executive of Saga Group, commented on the findings.

"A will is a living document and should be updated on a regular basis," he said.

"We would urge anybody whose circumstances have changed since their will was drafted to urgently get this checked."

Some people may be put off arranging a will because solicitors are charging prohibitively high fees.

Arranging a personal loan may represent one method of financing the cost of will writing.

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