40% Of All UK Wills Now on National Will Register as Register Hits 10 Million Milestone
The National Will Register has announced that it has now registered more than 10 million Wills, meaning more than 40% of all UK Wills are now registered on its system.
The National Will Register was created in 2006 as a means of centralising Will records in the UK, to make it easier to locate the existence of a Will following a bereavement. Previously there was no central record, meaning that even if a Will existed, the process of locating it and its contents could be difficult and time-consuming. Without a centralised record, people could be left with no option other than to call solicitors and Will-writers in order to track down the Will of a loved-one, something no-one wants to go through when dealing with the death of a loved one.
With recent research by Tower Street Finance suggesting that 48% of UK adults have a Will in place, this milestone means that around 40% of those Wills are now recorded on the National Register. This is something that will make the act of locating the details after the death of a loved one that bit more straightforward for millions of people.
However these figures also serve to highlight the number of unregistered Wills and, more pertinently, the number of adults in the UK without any sort of Will in place.
Jim Sisson, Finance Director and Co-Founder of Tower Street Finance said:
“A Will is one of the most important documents anyone creates in their lifetime. A properly constructed Will allows certainty of how an individual’s Estate will be dealt with after they have passed away.
“Ultimately, a Will is a legal document and it can be tricky to follow through on wishes if any of the wording is a bit vague or there are any contradictions. A properly drafted Will can avoid these difficulties so, unless a person’s affairs are very simple, we recommend seeking professional advice regarding Wills and Estate Planning.”
At Tower Street Finance we recognise that, as the beneficiary of a Will, there are many circumstances where you might want to get hold of your inheritance sooner. This is why we have created a range of solutions that can help including Inheritance Advance to get your inheritance sooner.