Research published by SFE (Solicitors for the Elderly) and law firm Blandy & Blandy, which has offices in Reading and Henley-on-Thames, shows that 70% of parents in the South East have no legal plans in place to make sure their children are looked after, should the parents die.
That means parents in the region are almost completely unaware of the risks of not identifying a legal guardian in their Will.
Only two out of 10 (18%) of parents in the South East understand that social services or the courts can step in to decide what happens to children if no will is in place.
SFE, a membership body of more than 1,700 UK solicitors specialised in advising people planning for the future, is calling on parents to make sure they have an updated will in place ahead of Update Your Will Week, which runs from Monday, January 23, through to Sunday, January 29.
Lisa Perry, associate solicitor at Blandy & Blandy, said: “It’s concerning how many parents don’t have a Will in place or haven’t appointed a legal guardian for their children.
“Godparents don’t count as legal guardians, so to avoid the risk of the courts deciding what happens to your children, you really should make a Will and update it at least every five years.
“Having an up-to-date, well-drafted will is crucial in ensuring your wishes are carried out in the way you’d like when you die. It’s crucial to keep your Will up to date and to take legal advice when life-changing events happen, like getting divorced or re-married, a death in the family, or having children.
“Our research shows that four in 10 Wills in the South East are out-of-date, and many people don’t have one in the first place.”
The new research, carried out by Censuswide, also revealed that
Only 56% of respondents in the South East have updated their Will within the last five years, meaning four out of 10 Wills in the region are out-of-date.
Half of the respondents in the South East have experienced a life-changing event, such as getting married, divorced or having a child, since they last updated their Will.
One-fifth (22%) of respondents in the South East know someone who has been affected by something going wrong with a Will.
For further information or legal advice, visit www.blandy.co.uk and to find out more about SFE, visit www.sfe.legal
