More people with property to bequeath

Interesting research carried out by Unbiased.co.uk and Certainty.co.uk, has revealed that more people than ever are expecting to be able to bequeath property to their loved ones in 2013.

The survey shows that over three quarters (76%) of UK adults plan to leave money (up from 74% in 2012) with an average value of £46,000 to their loved ones when they pass away. On the property front, the percentage of people hoping to leave property has climbed from 65% in 2012 to 68%, with an average expected value of £202,000.

Children and grandchildren are the main beneficiaries, as one fifth (19%) of people said they are hoping to leave enough to boost their child’s or grandchild’s savings. The emphasis on providing financial security continues, as 24% of people said they would like to leave enough money for their family to live comfortably. Only 6% of respondents said they would like to leave a significant donation to a charity, falling from 8% last year.

It is a matter of some concern however, that the same research shows a drop in the number of people who have an up to date will in place. According to the figures, 69% of people in their forties do not have a will (compared with 60% in 2009), while 54% of those in their fifties do not have a will, compared with 41% in 2009. Even people in their seventies are less prepared now than in 2009, with 19% saying they do not have a will compared with 14% in 2009.

Without a will there is no guarantee that the people you wish to receive your estate after your death will do so.

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