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80% of men in the UK without will
10/06/2009
New figures from Friends Provident published ahead of Men's Health Week 2009 have revealed how men in the UK are leaving themselves and their dependants open to financial hardship.
According to the data, which revealed that more than 90 per cent of men in Northern Ireland and the rest of the UK do not have appropriate insurance in place, 81 per cent do not have a will drawn up.
This can have grave implications for dependants because if no clear instructions are left behind in the event of death, then the wrong people or even the state may end up benefiting from any inheritance meant for them.
According to a report published by Standard Life early this year, "if these people die intestate, that is, without having made a will, any plans made to leave the estate to friends or charities will remain unfulfilled".
Highlighting the fact that one in five single people in the UK did not have a will, the report also revealed that these individuals were jeopardising their inheritance tax allowances and exemptions.
This meant that it would make it difficult to take care of their assets in serious health or death.
"Lenore Rice, head of the family and estates department of Wilson Nesbitt Solicitors, commented that "despite well publicised cases highlighting the difficulties and hardship to families caused by not having a will in place, there is still a great reluctance by the majority of people to make a will.
"No one wants to contemplate or dwell on what might happen in the event of their death, but they equally would not want to add to any grief in the event of same by not having their affairs in order, and their wishes for their estate confirmed in writing. Wills are inexpensive, and we strongly recommend that people contact a solicitor for advice."
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According to the data, which revealed that more than 90 per cent of men in Northern Ireland and the rest of the UK do not have appropriate insurance in place, 81 per cent do not have a will drawn up.
This can have grave implications for dependants because if no clear instructions are left behind in the event of death, then the wrong people or even the state may end up benefiting from any inheritance meant for them.
According to a report published by Standard Life early this year, "if these people die intestate, that is, without having made a will, any plans made to leave the estate to friends or charities will remain unfulfilled".
Highlighting the fact that one in five single people in the UK did not have a will, the report also revealed that these individuals were jeopardising their inheritance tax allowances and exemptions.
This meant that it would make it difficult to take care of their assets in serious health or death.
"Lenore Rice, head of the family and estates department of Wilson Nesbitt Solicitors, commented that "despite well publicised cases highlighting the difficulties and hardship to families caused by not having a will in place, there is still a great reluctance by the majority of people to make a will.
"No one wants to contemplate or dwell on what might happen in the event of their death, but they equally would not want to add to any grief in the event of same by not having their affairs in order, and their wishes for their estate confirmed in writing. Wills are inexpensive, and we strongly recommend that people contact a solicitor for advice."
Contact us for legal advice
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