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No Will? Think about the security of your loved ones

Statistics have been revealed which show that a considerable percentage of the population is still choosing to leave their loved ones unprotected by not preparing a Will.

The financial website carried out a survey last year which found over 30 million people – or 62 per cent of the adult population had made no preparations for their demise.

What may startle some people is that, as the law stands, children not specifically named in a Will are only eligible to receive an inheritance if the deceased has no surviving spouse or if they leave an estate valued at over £250,000.

As could possibly be expected, the age group of people with the highest percentage without a Will – 87 percent – is those aged under 35. However, what is more surprising is that more than a third of those aged over 55 have still not prepared for their demise, and a considerable proportion of people without a Will say they don’t have the time to prepare one.

This is where regulated Will writing and estate planning professionals can help, by minimising the time spent preparing and protecting your inheritance, as well as ensuring the largest portion of your estate is handed down to your loved ones, rather than the tax man.

This is succinctly summarised by Karen Barrett, chief executive of  She says: “Many people are simply unaware that should they die without a Will, their assets are distributed according to the rules of intestacy – meaning their assets may not be going to those they would like them to go to”.

The message is simple – a simple couple of hours spent now could ensure long term security for your children or loved ones.

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