Death and taxes are no longer certain, says Michael Tringham
Statistics abound in the world of wills and probate. A current favourite is that seven out of 10 Britons have not made a will—and, according to research by The Cooperative Legal Services, have no intention of making one. The most delinquent regions are together with ’s south-west and southeast, where more than 30% are currently will-less.
Reasons for this delinquency vary from “I’m too young” to “I have no assets to pass on.” Then there are the myths. Over 50% believe it’s necessary to own “more than £200” before being allowed to make a will. Another factor is fear of having to pay “exuberant” [sic] solicitors’ fees.
Whatever the reason, there will be trouble ahead. The statutory amount that a bereaved wife, husband or civil partner is entitled to was doubled on 1 February 2009—up to the first £250,000 of the estate or £450,000 if there are no children. Should the fortune be greater, the rest is shared out according to a set formula, with cohabitees and step-children losing out to close
