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06/01/2009
Single people are 'neglecting estate planning' |
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New research has found that people without a partner are less likely to have a will.
Standard Life's 2008 Wills and Trusts Research Report has revealed that single people and those with offspring that are under the age of 18 are less likely to have plans for their estate than those who are married or have previously been wed.
Of those surveyed in October, less than half (48 per cent) have a current will drawn up, down from 49 per cent in October 2007 and 50 per cent in October 2006.
A Standard Life spokesperson said that this is "particularly concerning".
People who are single are also more likely to leave money to charity in their will than those who are married (29 per cent compared to 18 per cent).
However, the representative claimed that if these people die intestate any plans made to leave the estate to friends or charities will "remain unfulfilled and if there are no family members alive, the whole estate will go to the Crown".
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