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Third of people with a will have updated it in the past year – survey

Vicky Shaw, PA Personal Finance Correspondent
·1-min read

Around one in three (32%) people with a will have updated it in the past year, a survey has found.

Giving loved ones security, wanting to ensure that charities benefit, and illness over the past year were among the reasons people gave for changing their wishes, Canada Life found.

Some people also said that the coronavirus pandemic had made them reflect on their own mortality.

The survey found that more than two fifths (44%) of adults across the UK now have a will in place, up from 41% in July 2020.

Of the 56% of people without a will in place, a third (34%) said the pandemic had resulted in them starting to write a will or considering writing a will.

Neil Jones, a tax and estate planning specialist at Canada Life, said: “As a society, we often shy away from talking about the state of our personal and financial affairs, which can make wills and estate planning a taboo subject for many.

“But while no one likes to think about their own mortality, it’s extremely encouraging to see that the global pandemic has prompted people into action.

“Having a will in place not only provides people with financial security and peace of mind, meaning their families and loved ones will be provided for should the unexpected happen, but can also help reduce the amount of inheritance tax that might be payable on the value of the assets they leave behind.”

More than 2,000 people were surveyed across the UK in March.