Survey Reveals More Than Half Of Respondents Have Not Prepared A Will

According to a new survey conducted by comparison website finder.com.au, more than 52 per cent of adult Australians have not prepared a will.

Of the 2,000+ Australians who responded to the survey, those who reported they do not have a will:

• 34 per cent said that they were yet to get around to preparing a will;
• 14 per cent said that they did not own enough assets or perceive themselves as wealthy enough to justify the effort required to produce a will; and,
• 4 per cent said that they did not wish to leave behind a will.

Demographic variables explored in the survey further highlighted that men were more likely to have a will than women. Age also appeared to factor into a respondent’s likelihood of having prepared a will, with 79 per cent of Baby Boomers stating that they had a will compared with only 20 per cent who belonged to Generation Y.

Looking specifically at data collected from those based in NSW, 44 per cent of the respondents answered yes when asked if they had a will, while 52 per cent answered no and 4 per cent said they were unsure.

Finder.com.au insurance expert, Kate Browne, has called for more people to consider the importance of preparing a will and dismissed the mistaken belief that a will is only necessary for those who have a large estate:

“Most people don’t like to think about their death and fewer still enjoy paperwork, but if you die without making a valid will, your assets could be distributed in a way you would not have chosen,” Ms. Browne commented.

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Szabo & Associates, Solicitors can offer expert advice on a wide range of legal matters, including contesting, making or updating a Will and preparing a Power of Attorney. Please call George Szabo on (02) 9262 1021 or fill in our online contact form.