According to new research 58% of UK adults don't have a will, a figure broadly unchanged from when the survey was carried out in 2009. This is a staggering and worrying statistic as clearly the importance of making a will is not being understood by the general public.
There are numerous reasons why it's a good idea to make a will, which are summed up in my article Money tip #14 – Make a will (including why and how). Not only can a will enable you to save a lot of tax and pass on more of your assets to the next generation but more importantly you can ensure the people you care about are provided for after you've gone.
How to get a free will drawn up
A will typically costs upward of £90 for the a simple will for a single person, and around £135 for a couple with basic mirror wills where they leave all their assets to each other upon death.
But as part of Free Wills Month in October those aged over 55 can ''have their simple Wills written or updated free of charge by using participating solicitors in selected locations around England and Wales".
Simply follow the above link enter your postcode and locate a solicitor near you taking part in the campaign.
Low cost alternatives
November sees the return of Will Aid where solicitors give their services for free (there is no age restriction to use the service) in exchange for a donation to one of their suggested charities. Again this is only suitable for those people needing simple (less complex) wills.
Alternatively, there are low cost websites which offer a similar service. Read my article 'How to make a will & why' for details of one such site which I have used personally.
- How to make a will & why
- What happens if you die without a will
- 7 reasons why you should update your will
Looking for a financial adviser near you?
Do you need financial advice? An independent financial adviser can show you how to make the most
of your money. Find your nearest qualified and regulated adviser using this VouchedFor search tool.
Alternatively, Hargreaves Lansdown, one of the UK’s largest firms providing restricted financial advice, is offering a £200 John Lewis voucher* to new clients.