Will Aid

19th October 2011

Will Aid Poll: Top Line Findings

• For the first time the percentage with a Will is up from 40% in 2010 to more than 46%.
• Still almost 54% of adults do not have a Will. Only in the 55+ age group, has a majority - 68.1% - made a Will.
• Fewer people in Northern Ireland have a Will compared with the rest of the UK.
• People in Central Scotland are the most likely in the UK to have a Will, followed by those in South of England.
• People who have been widowed are the most likely to have a Will (81.5%), followed by those who are married or in a civil partnership (55.6%).
• Almost 46% of respondents wrongly believe that their married or civil partner will automatically inherit their estate if they die without a Will. Unfortunately they are wrong. If you are married or in a civil partnership, there is some automatic right to inherit from a deceased partner but this is currently limited and in certain circumstances the surviving partner may even have to sell the family home to pay off other relatives. In England and Wales, where there are children, the surviving partner may only be immediately entitled to the first £250,000 of the Estate. The financial limits and rules are somewhat different in Scotland and Northern Ireland.
• Over 80% of these single people do not have a Will.
• Only 36.4% of separated respondents have made a Will.
• Over 74% of couples living together without being married or in a civil partnership have no Will.
• Across all marital groups, 68% of people with dependent children have no Will.
• Of the 14% of people living together who have made a Will, only 8.6% have left something thing to their unmarried partner. This compares with the 96% of people in married/civil partnerships who have made a Will and who have left something to their partner.
• Most people believe it more important to provide for their partner/spouse (44.50%), followed by dependent children (32.50%) and then adult children (15.00%). Other blood relatives (brothers, sisters, parents and grandchildren were not considered to be a priority. Adult step children were considered to be the least important potential beneficiaries.
• Over 86% of those who have made a Will, claim they have discussed the contents of their Will with loved ones. This is a good policy and avoids sudden shocks and the resultant disputes that can arise when loved ones are surprised by the contents of a Will. More than 13% of respondents (or someone in their family) has had disagreements or problems related to an inheritance.
• Over 86.6% claim that their loved ones know where to find their Will. But in the UK, about 60% of deaths are intestate. This is where a Will cannot be found or is presumed never written.
• Where objects are bequeathed, jewellery is the most popular.
• 67.9% chose a solicitor over other providers or methods to write their Will. 
• To avoid family disputes, it is important that couples agree where any assets will be distributed when the surviving partner dies. A majority (70.60%) say that they have agreed but over 26% say they haven’t discussed the issue.
• Most people (over 80%) think it important to leave equal shares to any children whether they are dependent or adult.
• In the 18-24 age group, a substantial percentage are hoping for an inheritance to improve their lifestyle (19.30%) or buy a home (22.80%). In the 25-34 and 35-44 groups, repaying the mortgage features strongly whilst in the 45-54 group helping with retirement costs scores highly.
• The vast majority of people would not be upset if their own parents decided to leave some of their money to charity. When asked about their own children’s’ attitudes, fewer than 16.5% feel that their children would be upset if they left money to charity in their Will.
• Respondents in the over 55 age group are the most likely to have already left a legacy but the intention to leave a legacy is highest in the 18-24 at 21.90% (34%) and 25-34 at 22.10% (22%) age groups.
• 2011 figures reveal a surprise slight increase in numbers believing their estate is worth more than inheritance tax threshold. This now stands at 11.5%, up from 10% in 2010.
• More than 80% of people in the 55+ age group have not made a Lasting Power of Attorney.