Fewer than half (41%) of all adults say that they currently have a will. However, that number does rise significantly after the age of 55; almost three quarters of that group do have one (71%). Only two in five (42%) of 45- to 54-year-olds have a will.
For those who haven’t made a will, over half (53%) say they have not got round to it, while 11% say they know they need to, and that they will get round to it. This shows an area where companies can attract new clients. A significant majority (68%), say that they are too young to make a will, and 20% say they have no assets to pass on.
A change in health is a prompt to make a will for 38% of respondents. Financial reasons are the motivation for 23%. Over half say getting married (52%) and having children (52%) are the key motivators. The loss of a loved one leads to a decision for 27%. Separation (62%) is the main reason a person would choose to change the contents of their will.
Over half (55%) say the reason they make a will, reg...
Want to see the rest of this article?
Would you like to see the rest of this article and all the other benefits that Issues Online can provide with?
- Useful related articles
- Video and multimedia references
- Statistical information and reference material
- Glossary of terms
- Key Facts and figures
- Related assignments
- Resource material and websites