Have you thought about your will?

Tuesday 14th October 2014

According to our survey 56% of people believe that having a will is very important yet only 38% of people actually have one.

Writing a will can stand to be one of the most important documents you’ll ever have your name on as it is the only voice you have once you’re no longer around. Marsden Rawsthorn conducted a survey on the topic of Wills in order to better understand the view of our clients as well as the general public on this potentially very important subject.

Below are our findings:

 

Wills Survey results

 

Do you have a Will?

38% - Yes

62% - No

 

What is your marital status?

42% - Married

24% - Single

8% - Divorced

26% - Co-habiting

 

On a scale of 1-10 how important is it to have a Will? With 1 being not important and 10 being very important.

6% - 1

2% - 2

4% - 3

2% - 4

6% - 5

6% - 6

4% - 7

12% - 8

2% - 9

56% -10

 

What would motivate you to make a Will?

8.7% - Marriage

63.04% - Children / Grandchildren

8.70% - Death of someone

4.35% - Divorce

15.22% - When purchasing a property

0% - When starting a business

0% - A charity initiative

 

When do you believe you should write a Will?

32.61% - Once engaged / married

32.61% - Pregnancy / birth

28.26% - When purchasing property

0% - When starting a business

6.52% - When I’m over 50

 

When, if ever, would you change your Will?

6.25% - Once married

27.08% - After a divorce

16.67% - Birth of child

12.50% - In the event of a family feud

33.33% - Improved financial circumstances (i.e. inheritance)

4.17% - Purchase of a property

0% - New business partnership

 

Why do you believe people choose not to have a Will?

25.71% - My family know my wishes

0% - My family would never argue over my wishes

65.71% - Everything will automatically go to my next of kin and that is the way I want it

0% - An off the shelf will is good enough

8.57% - There is no point making a will as it can be challenged anyway

 

Does your Will include instructions about your digital legacy? i.e. social media, iTunes and online shopping accounts and do you believe this is important?

6% - Yes, my Will includes my digital legacy and yes I think it is important

0% - Yes, my Will includes my digital legacy but I don’t think it is important

28% - No, my Will doesn’t include my digital legacy but I do think it is important

66% - No, my Will doesn’t include my digital legacy and I don’t think it is important

 

Would you purchase an off the shelf Will? Do you think a high street Will provides you with all the information you need for a Will?

10% - Yes, I would purchase an off the shelf Will and I do believe it would provide me with all the information I would need

10% - Yes, I would purchase an off the shelf Will, although I understand it may not be as comprehensive as a traditional Will

14% - No, I wouldn't purchase an off the shelf Will, but I do believe it would provide me with all the information I would need

66% - No, I wouldn't purchase an off the shelf Will, as I don't believe it would provide me with all the information I would need

 

Who would you choose to prepare your Will?

16% - I would do it myself

56% - I would appoint a solicitor

28% - I would appoint a Will writer

 

Author: Administrator

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