Experts call for more islanders to get a Will as almost 60% under the age of 50 don’t currently have one
According to a recent survey carried out by Babbé LLP, setting up a Will is not on people’s immediate to-do list with 59% of younger islanders, those aged between 18 and 50, not having made one.
More than 100 people took part in the survey which resulted in 51% stating they do not have a Will, despite the fact that 86% ranked a Will as very important to set up.
Some of the barriers identified included cost, thinking they are too young to need one, lack of understanding of how to set one up and not having enough time.
Andrew Laws, Senior Partner at Babbé LLP, said: “It is clear that Wills are not widely talked about among younger people, and some have said that they felt too young to think about having one. “
“Wills are incredibly important, no matter what age, as they ensure that your wishes are fulfilled in the event of your death. As the pandemic has shown, life is full of uncertainties, but a Will is something that can help bring assurance during the most difficult of times.”
Of the 31 respondents who were over the age of 50, only 36% said they do not have a Will compared to 64% who do. Of the 73 respondents between the ages of 18 and 50, 59% do not have a Will compared to 41% who do. Many of the people who do have a Will stated that it was put in place when they purchased their first home.
“Wills should not be left until later in life – if there are specific wishes you want set out, it is important to get these sorted as soon as you can. Wills will give your family and friends the certainty that they are managing your affairs in the way that you wanted them to. It can save a lot of hassle and heartache for your closest family, which is definitely what most people would want to avoid in the event of their death,” added Advocate Laws.
“If anyone has any concerns or questions Babbé has an expert team who can assist with setting up a Will.”