59 - The age of the will but for many it's too late

The average person in the UK is 59 before they accept their mortality and decide to write a will, according to a study by The Co-operative Legal Services (CLS).

That means Arsene Wenger, Bruce Springsteen, Meryl Streep and Gloria Gaynor should all be considering getting a will sometime soon.

However, each year more than 40,000 adults die before they reach 59 so if they have not got a will it can cause financial difficulties and uncertainty for their family and loved ones.

As part of the study CLS surveyed 3,000 people aged 18 and above revealed that a staggering 34 million adults across Britain don't yet have a will, and have no intention of getting one in the near future.

A shocking 72 per cent of Britons aren't concerned about making a will, with a third of people questioned saying that they felt too young to have a will, and 40 per cent claiming that they don't have any assets to pass on.

The research highlights that more than one in 10 people don't have a clue how to make a will with the same number not interested in making one, as they don't want to pay ‘exuberant' solicitor's fees.

Eddie Ryan, Managing Director of The Co-operative Legal Services (CLS), said: "These findings clearly demonstrate that the majority of adults in the UK are currently unaware of the importance of having a will - staggeringly, over 34 million people cannot be certain that when they die their money and possessions will go to the persons they wish, in particular their partners and children."

Mistakenly, the majority of people believe that they have to own more than £200 before being allowed to make a will, with over half of respondents admitting that they had never previously thought about a will - and have no idea whether other family members have one.

Eddie Ryan continues: "It is also apparent from the research that there are a number of common misconceptions surrounding will-writing, however with the right professional legal advice it needn't be an expensive or laborious process.

"At Co-operative Legal Services we strongly believe that having a valid and up to date will should be seen as a fundamental element of responsible financial planning."

Anyone interested in finding out more about a will should visit www.co-operative.coop/legalservices