42% of wealthy Brits have not made a will

Over the weekend the Express reported on the lack of planning as a study reveals 42% of wealthier Brits have not made a will.

Inheritance tax, half of wealth Brits could pay more because they don’t talk about wills

Martin P Holdsworth had this to say: ‘Will making inertia is nothing new – the number of people making wills has remained pretty static for decades despite the rising value of the average estate on death. With 1 in 3 individuals now relying on an inheritance to fund retirement or discharge debt, the lack of testamentary planning is creating a mismatch of expectations or reality.

We call the generation now receiving inheritance as the “windfall generation” – they are receiving more money from their parents than at anytime in history. But legislation has not kept up with the times and dying without a will is still dealt with by a set of rules (the Intestacy Rules) that made more sense 50 years ago, when blended families and unmarried cohabitation were a small minority. With proper estate planning, I can almost guarantee that what happens to your estate is not what you would want and leaves a mess behind that we have to resolve.

Get advice and make a will – have conversations with your family in life not leave them to second guess after you’ve gone!’