Latest estimations predict that almost a third of people in the UK in 2075 will be of pensionable age.
It has been well documented that the population of the United Kingdom is getting older. The impact that this aging population on Will writing solicitors in North Wales could be significant, with an anticipation that in the future, more Wills could be contested.
Since people are living longer, it is only reasonable to assume that they are retaining their wealth and assets for protracted lengths of time. The knock-on effect of this is that estates will not be transferred to the younger generation during this time. Another impact is that as people get older, their care requirements may increase and they may need to spend a portion or all of their money on their care, leaving less to leave to their loved ones.
Although these predictions are far into the future, Wills solicitors in North Wales are facing the consequences now. Many current testators are elderly, and this has led to more contested Wills due to concerns about capacity. Dementia figures are rising, which also compounds issues about undue influence; many Wills are currently being written within a care home or other supported environment. Legal advisors continue to urge that all Wills are created using qualified solicitors and advise that early estate planning is crucial to avoid future problems.
At Bennett Smith Solicitors, we provide expert and current advice on all aspects of Will making. Contact us today to discuss your options further.
