Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

5% OF 55 YEAR OLDS DON’T KNOW HOW TO GET A WILL

A new survey has revealed that more than one in ten people in the UK don’t know how to get a Will, despite over 90% of the population considering it to be important. Of those who didn’t know how to get a Will, 5% of them were aged 55 and over, and 2% were 65 and over.

One in six people felt they were too young to have a Will, with 16% of these aged between 55 and 64 and 2% in the 65 years and over age group.

Of the 42% that already have a Will in place, the majority were men. Geographically, people living in the East Midlands and Scotland were most likely to have a Will with those living in the North East being least likely.

The survey of 1,000 people from across the UK was conducted by London-based chartered accountants Perrys to raise awareness of the importance of having an up-to-date Will. It showed that 9% of those questioned felt it was too expensive to get a Will. And despite earning nearly twice the average annual wage, one in ten of these are taking home £40,000 per annum or more.

Other results revealed that nearly half would consider getting a Will if they could benefit from free, professional advice at home, with only a quarter wanting to discuss their Will by telephone, whilst a third would prefer to be contacted at their place of work.

Stewart Pope, who is CEO at Perrys, said:

“There still isn’t enough emphasis on the importance of having a Will in place whatever your age, income or assets.

“A Will should be seen as an insurance policy and can save your family a lot of heartache in the long-term should something unexpected happen. This is particularly important if you have children or live together, but aren’t married. Even if you are married there are still grey areas as to who will inherit your belongings.

“Not only does a Will legally determine the allocation of any assets you may have, but it will also clarify personal requests such as who will care for your children in the event of both parents’ deaths.  A Will can also help inheritance tax payments to be planned more efficiently and help to avoid costly and lengthy disputes amongst family members.“