Half of UK adults don’t have a will, study finds

Over half (51%) of UK adults have not written a will, nor are they in the process of writing one, Canada Life has found.

Research by the investment and protection firm revealed that this figure also includes 13% of people who state they have no intention to write a will in the future.

Canada Life also found that 30% of those aged 55 and over do not have a will while 9% of those who are 55 and over have not made a will and have no plans to.

The top reason for not making a will is the belief that not having enough assets or wealth to warrant creating one (26%), with others feeling that they have plenty of time to make a will (23%).

Other reasons include that an estate might take a long time to resolve (18%), and that it will create arguments (15%).

Furthermore, two in five (41%) said nothing worries them about not having a will.

For those that who have written a will, over half of UK adults had it written by a solicitor (55%) and around one in six (16%) have written a will themselves, with 6% on a piece of paper and the remainder via an online will writing service.

Almost two thirds (61%) of those who have written their own will did not seek legal or financial advice at any point in the process.

Technical manager for tax, trusts and estate planning at Canada Life, Stacey Love, said: "It may feel like there are many reasons not to make a will, whether that be having time on your side, not having ‘enough’ wealth to pass on, it being a cost you could do without or unfounded assumptions that your estate will be divided up equally and as you see fit, without a will in place.

"However, it’s important to look beyond the short-term pain of having to think and talk about your own mortality as writing a will, will inevitably mean a long-term gain for your loved ones, when they do not have to worry about or deal with a huge additional burden, if the worst happens."



Share Story:

Recent Stories


Helping landlords make their cash work harder
MoneyAge Editor, Adam Cadle, talks to Family Building Society BDMs, Arif Kara and Nathan Waller, about the resilient BTL market, the wide variety of landlords that Family Building Society caters for, and how niche products like an Offset mortgage can help improve cashflow.

An outlook on the BTL market
MoneyAge Editor, Adam Cadle, talks to Landbay senior regional account manager, Alex Witham, about current market sentiment within the BTL space and Landbay’s success in this area

Empowering advisers: A decade of education in Later Life Lending with Air Academy
Michael Griffiths is joined by chairman of Air Club and former founder and CEO of Air, Stuart Wilson, and head of the Air Academy, Daniel Holden, to look back on a decade of business focused learning at the Air Academy.


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.