63% of Londoners are in danger of leaving a ‘financial black hole’ upon death due to having no legal written will in place.1
According to London chartered accountants Perrys there are an estimated 3.9 million adults in London who risk dying intestate simply because they put off writing a will or feel that their estate is too small to warrant a legal executor.
Craig Harman, Partner at Perrys Chartered Accountants in Central London, said:
“It is an alarming statistic and one that should be taken seriously by individuals. Unfortunately, no matter what your personal family arrangements may be before death, in the event of a family dispute these will not be enforceable without a legal written will in place.”
Current laws in England and Wales mean that a surviving partner who wasn’t married to, or in a civil partnership with, the deceased has no automatic right to inherit their estate and it will be shared equally between the deceased’s children or their descendants. If there are no blood relatives the estate will be passed to the government.
“We would urge anyone who hasn’t considered writing a will to seriously consider taking the time to put one in place – no matter what the size of their estate.
“Once a will is in place it is equally important that it is reviewed on a regular basis and, in particular, when any life changes occur such as marriage, divorce or the birth of a child or grandchild.”
Free information about making a will can be downloaded at www.perrysaccountants.co.uk/literature