Report Suggests UK Families Are At Risk Of Financial Shock As Planning For Later Life Remains Taboo

Specialist will dispute lawyers at Irwin Mitchell are urging people to ensure their financial plans for later life are in order after a new report revealed that more than half of Britons still don't have a Will.

The report from insurer Aviva highlighted 

• 62% of adults based in the UK feel death shouldn’t be discussed as it's a taboo subject 
• Few have organised practical arrangements for their later life
• 55% are still to make a Will 
• Majority of the UK have not discussed their parents wishes with them. 

Expert Opinion

“We understand that no-one likes to think about death, however it’s concerning that so many of us are not planning arrangements for their later life which could potentially leave family members financially vulnerable. More than half the adult population still do not have a will and this report shows that people are putting off thinking about what will happen to their assets when they die. <br/> <br/>“At Irwin Mitchell we see the consequences of not ensuring you’re prepared for later life and it can have a massive negative impact on those family members left behind. <br/> <br/>“Sorting out the problems that occur when wills are not up to date or are not written can be costly and time-consuming, particularly for complex family situations where there are second and third marriages involved, and children from different partners. <br/> <br/>“There are a number of steps that can be taken to ease some of the practical and financial challenges that come following the death of a loved one. These include, creating an up to date valid will and discussing your financial decisions with your family and friends.” Paula Myers - Partner