Til debt do us part

Over two in three Britons are disheartened at the prospect of inheriting debts from relatives as the reality of the economic downturn hits (68%), but almost a third would also be left fuming if they were not included in their family member’s will (27%), according to new research from Minster Law Solicitors.

At a time when personal debt has reportedly soared towards £100 billion in the UK, the research exposes how easily family rifts can develop from disputes over wills. What are people to do if they are pushed into a difficult financial situation through default of a will?

The survey carried out by independent law firm Minster Law amongst a GB representative sample of more than 2,000 Britons reveals the gripes that emerge from the ‘taboo’ subject of wills.

Despite being resigned to the possibility of inheriting debts, one in ten said they would be bitter if a step family member was included in a will (10%).

Over one in ten said they would also be put off by the paperwork that might be involved by being a beneficiary in a will (12%) – a situation that could be avoided if Brits took the time to organise these important matters to prevent leaving behind added complications.

Keep it in the family - Nearly one in five Britons say that they would be angered if a family member left their money to a charity instead of them (18%).

Disappointing amounts – Just under one in ten would be angry if they were left a different amount to they were expecting (8%).

Brotherly and sisterly love is on rocky ground with a third of siblings getting tetchy if they feel they are not getting their fair share in a family members’ will (31%).

Craig Underwood, Legal Services Director at Minster Law commented: “From the research it appears that the majority of people want to be included in a will but don’t want to be associated with any problems, complications or paperwork that might occur.

“Many people think that making a will and updating it every few years is unnecessary and it is understandable that people don’t know where and when to turn to for legal advice as solicitors can often be perceived as ‘stuffy’ or ‘inaccessible’.

“However, in the long term, keeping your will in order can save your family time, hassle and heartache and ensure that you choose those who benefit from your assets. At Minster Law, we pride ourselves in making legal arrangements as straight forward as possible giving people legal help as it should be.”

For further information, visit minsterlaw.co.uk