A record number of later life planners have made an adjustment or created a Will for the first time during the coronavirus pandemic, a major study has revealed.
However, the research shows that the “overwhelming majority” of people still “do not have their affairs in order”.
Published by the Law Society, the legal regulator for law firms in England and Wales, the survey of Brits reveals that seven per cent have made or updated their Will during the first nationwide lockdown. A further three in 10 (29 per cent) said they already have an up-to-date Will that “reflects their current intentions”.
Law Society president David Greene described this phenomenon as a “striking shift” compared to the same period last year.
However, three in five (60 per cent) adults surveyed said they still do not have a Will – leaving them vulnerable to the laws of intestacy.
When asked why they have not drafted a Will, a quarter (24 per cent) said they did not have anything of value to leave, while one in five (20 per cent) could not find the time to do so and a similar number (18 per cent) said they were too young to make a Will.
Commenting on the study, Mr Green said: “It is hugely encouraging so many people have made wills during the first UK lockdown, but the fact remains that the overwhelming majority of the UK public do not have an up-to-date will as we enter the second wave of Covid-19 cases.”
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