Should I Have a Will?.

According to the National Wills Report 2025, only 37% of people have a will. Whilst 56% of people aged 55 and over have a will, this drops to 20% for those aged 18 to 24.

The main reasons cited for not making a will were:

• Too expensive
• Don’t like thinking about death
• Too long of a process

“It’s something I’ll get around to” is one of many phrases you may hear when asking someone whether they have made a will. Despite the importance of having a will, many people continue to put off making one, or fail to review their will regularly to ensure that it still reflects their wishes. Currently only 37% of people have a will, while 50% of adults aged between 18 and 24 have no plans to make one at all.

For many people, thinking about their own mortality and making decisions about what should happen to their belongings after their death can feel daunting. However, making a will provides an important opportunity to put clear arrangements in place and ensure that your wishes are known.

Without a valid will, your estate may be distributed in accordance with the rules of intestacy. These rules determine who is entitled to inherit and may result in your assets passing to individuals you did not intend to benefit at all.

Making a will requires careful consideration

Another common misconception is that making a will is a simple process that can be completed quickly. In reality, there are a number of important factors that should be carefully considered to ensure your will accurately reflects your wishes, and that you receive the most appropriate tailored advice to your circumstances.

Your family circumstances, assets, potential inheritance tax implications and intended beneficiaries should all be considered. It is also important to think carefully about who you would like to appoint to deal with your estate, as they will have the responsibility of administrating your estate and implementing your last wishes.

Choosing the right advice

When making a will, it is important to look beyond the initial cost. While choosing the cheapest option may seem appealing to some, it may not provide the comprehensive advice needed to identify potential issues, or ensure that your wishes are properly reflected in your will.

At Lanyon Bowdler, we understand that making a will can feel like a daunting process. We aim to make the process as straightforward as possible, giving you the opportunity to discuss your circumstances and wishes with an experienced member of our Private Client Team.

During your initial meeting, we will discuss important matters including who you would like to appoint as your executors, your funeral wishes, who you would like to benefit from your estate and any other matters that may be relevant to your individual circumstances, for example, inheritance tax planning.
Taking the time to make a properly considered will can provide peace of mind that your wishes have been clearly set out and that appropriate arrangements are in place for the future.

You might find it helpful to listen to our podcast which covers this subject. The podcast “When Did You Last Update Your Will?” can be listened to here: https://bit.ly/4nmICF3

Written by legal administration assistant, Emily Jacobs.