Research shows people confused about Wills

The latest research indicates there is considerable confusion among UK adults about the laws concerning Wills and inheritance.

This is the finding of a survey that spoke to 2,000 adults across Wales and England who are 25 or older. The survey shows that close to half of them think an inheritance will form a key part of their financial stability in the future. Among those who make more than £100,000 per year, the figure rises to 72%. Meanwhile, 53% of the people who took part said they felt confident about inheriting money or property.

However, the survey also reveals that many of those people lack real understanding of the law. 90% of them thought existing Wills were not automatically nullified by marriage. A further 27% believed close family inherit an estate whether a Will exists or not. These are errors that could prove costly for people who do not consult Wills solicitors in North Wales or England.

Another mistaken belief highlighted by the survey is that children are automatically entitled to inherit part of an estate. This belief was held by 16% of the people who participated.

One of those who spoke out about the survey results was Bernadette Baker, from Birketts. She stated that they show an urgent need to educate the public about estate planning and how the laws concerning inheritance and Wills could affect them.

Here at Bennett Smith Solicitors, both Will writing and estate probate are among our key areas of expertise. Call our solicitors in Conwy today to book an appointment.