Still less than half the adult population have a will.
The industry is well aware of Britain’s aversion to writing an up to date Will. There have been many reports that indicate our mortality is considered taboo; as a nation, we would rather live in ignorance, than confront the issue and prepare for our passing.
However, ‘The Will writing industry in 2018 report’, has claimed that more of our island populace is beginning to embrace their responsibilities by writing a Will. 45% of Great Britain now has a Will, this figure has increased by 6% from the 39% recorded in 2017.
The report also highlights the continuation of the longstanding trend considering age groups more likely to make a Will. 75% of people aged over 55 now have a Will, with 79% of retirees ensuring that they have a Will in place.
Only 12% of people under the age of 34 make a Will, with an average of 34% of people between 35 and 54 obtaining an up to date Will. 41% of people viewed their quickly shifting family circumstances as attributing to their reluctance in making a Will. Worryingly, only 26% of parents with children under the age of four years old have a Will. Reassuringly, this figure rises to 42% of parents with children aged between twelve and sixteen years old.
People using a solicitor to write their Will has increased from 23% a year ago to 26% in 2018. However, as price transparency looms, 52% of potential customers are responsive to price, with 50% looking for a service, firm and person to be regulated by a recognised body.
Similarly, those using a face to face professional Will writing service increased from 5% in 2017 to 6% today. Overwhelmingly, 67% of people using professional Will writers are looking for a company, person or service to be regulated by a recognised body. 65% are also sensitive to price.
Here at the IPW and ISPW, we are recognised and respected as leading experts in the Wills sector. When the majority of people are looking for a reputable company to complete their Wills and Estate Administration work, the IPW and ISPW, along with the CTSI Consumer Codes Approval, highlight the dedicated, high quality work that its members complete for its clients.
Additionally, when 90% of IPW clients view their services as ‘excellent,’ it is clear that being members of the IPW (such as APS) is invaluable and positively sets them apart from the competition.
IPW Nov 2018