WHY HAVING A WILL IS AN ESSENTIAL PART OF YOUR FINANCIAL PLANS

New research reveals that a startling number of UK adults over 55 lack a valid Will, potentially leaving their loved ones facing uncertainty [1].

The findings show that a significant 25% of individuals over the age of 55 in the UK have not made a Will. Additionally, the study highlights that many Wills have not been updated for a considerable time. Nearly a third have not reviewed their Will in over five years, and 12% have not done so for more than a decade.

PEACE OF MIND

Additionally, it is important to recognise that Wills are not only for the wealthy or elderly. Anyone with dependents, property, savings or cherished personal belongings should consider formalising their final wishes. A Will offers peace of mind, knowing that whatever your circumstances, your affairs will be managed in accordance with your instructions.

This oversight can lead to significant complications. Without a Will, your estate is governed by the rules of intestacy, meaning the law decides how your assets are distributed. This process may not align with your personal wishes and could result in the overlooking of loved ones, such as unmarried partners or stepchildren.

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Source data:

[1] Survey conducted by Opinium for Canada Life among a nationally representative sample of 2,000 UK adults between 7 and 11 October 2025.

This article does not constitute tax, legal or financial advice and should not be relied upon as such. Tax planning is not regulated by the Financial Conduct Authority, depends on the individual circumstances of each client and may be subject to change in the future. For guidance, seek professional advice.