March marks Free Wills Month, an initiative that allows people aged 55+ the opportunity to write or update their will for free with a participating solicitor across the UK. The month also serves as a reminder for others to get a will in place and to think about their planning, to not only ensure their wishes are laid out for loved ones, but also make it as easy as possible for them, should the worst unexpectedly happen.
Worryingly, only just over a quarter (28%) of UK adults claim to have a will, with nearly a fifth (19%) believing that they don’t need one, according to research from Co-op Legal Services. This lack of action can leave families unprepared.
Research from MetLife UK, the protection and employee benefits provider, also found that one in five (19%) people who have experienced bereavement felt unprepared when managing a loved one’s legal affairs after their passing, including sorting their will, knowing where it’s kept, and being a lasting power of attorney.
When it comes to will writing, research from MetLife also found:
- Half (51%) of adults say they would use a funeral planning service if it could mean they could help with will-writing or keeping documents and passwords safe in the event of someone’s death
- Well over a third (37%) of bereaved individuals say that will writing prompts them to have conversations about death and end-of-life considerations
- This rises to 42% for those age 55 and over
- One in seven (15%) people who have experienced bereavement said they would have found more practical support from their employer helpful in their time of need. This includes such things as how to manage being an executor of a will, help with contacting accountants, or how to close bank accounts
Charlotte O’Brien, Head of Employee Benefits at MetLife UK commented:
“With nearly three quarters of UK adults potentially not having wills in place, Free Wills Month serves as a great reminder and service for many, but it seems that there is an opportunity for employers to also play a key role in turning the dial on this also. We know that many would welcome this kind of practical support from their employer, and that leaving a well written will matters more than is often realised, allowing a person to leave behind a more positive legacy.”
MetLife’s Group Life policy gives holders free access to its Life and Legacy services. In addition to a life payment, in partnership with Everest, it also provides 24/7 assistance before and after death. This includes will-writing services, expressions of wishes and a digital lockbox for passwords and documents for employees to set up. Plus, funeral planning tools, support and advice for their loved ones when they are gone.
