Some people 'not making a will'

By Tom Farley, Thu 25 Sep 2008 - Published in Pensions

People with a fixed income and few assets are neglecting to make a will, according to claims.

Managing director of Exclusively Wills Paul Gachet suggested that these people are also hit by increasing food and fuel costs, further discouraging them from drafting the testament.

However, Mr Gachet added: "What we find is with younger people who have just had children, spurs them on to make wills."

The expert also said some people choose not to make a will in the middle age until people around them die, which jolts them into action.

According to the August 2008 HFM Columbus Retirement Survey, 86 per cent of respondents own their home and three-quarters believe it is important to pass on their belongings to friends and family when they die.

In addition, 91 per cent of these have made a will, although 59 per cent are worried about the impact inheritance tax will have on their estate.

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