Last Updated on 20.7.22 by Gorvins
Despite facing an uncertain financial future, most Brits would rather go on holiday or buy a sofa than make a Will.
In fact they`d even prefer to use the cash on home improvements than make plans for how to protect and divide assets for their loved ones.
The astonishing results emerge from a brand new survey which suggests that we are no longer a nation who thinks about how our spouses and children might fare after our demise.
Yet the latest research also shows that if they were to make a Will, most people would plan to leave their assets to their children – whether they had made a Will or not.
According to the survey by top North West law firm, Gorvins Solicitors, when asked how they would prefer to spend £300, 54 per cent said they would choose to use the cash for a holiday, whilst 36 per cent would devote it to home improvements.
Meanwhile 5 per cent said they would spend it on a sofa – but this was still greater than the 4 per cent who admitted they would choose to use the money for making a Will.
Yet 61 per cent of respondents said that if they were to make a Will, they would leave it to their children. 4 per cent would leave their assets to their pets.
Gorvins Solicitors have now launched Act on It – a campaign entirely aimed at helping people from all walks of life to understand the importance of making a Will.
Christine Thornley, Partner, Head of Wills, Trusts & Probate at Gorvins, and an expectant mother herself, said: “We tend to think that we are immune to accident and illness, that it won’t happen to me, especially when we are young. But taking no action and avoiding those blunt conversations can result in devastating consequences.”
“Making a Will needs to be as familiar and fundamental as taking out home, car or life insurance.”
Even as the country remains gripped by royal baby fever, only 25 per cent of people say having a child would prompt them to make a Will.
There are various milestones that should really be prompting people to think about their future. Whilst planning they should naturally be putting what may be ‘obvious’ to them into legal terms for others.
A single Will drawn up by a solicitor can cost between £200 and £300, depending on which part of the country you are in.
But, making sure your Will has been properly written and legally binding is often overlooked – which would have the same effects as not having one at all.
Without the correct advice, use of legal terminology and following strict witnessing rules, you risk leaving your family with nothing but a legacy eaten away by legal bills or unnecessary tax.
Adds Christine Thornley: “Act on It is not just about education, it’s about action, shaking people out of the ‘I’ll do that tomorrow’ mentality. Wills are not just for the elderly. We want to dispel that myth forever.”