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Wills 'essential regardless of personal finance situation'

Wills 'essential regardless of personal finance situation'

It is essential for all Britons to write an adequate will before they pass away, regardless of how much money they will be leaving behind.

That is according to Brian McMillan, director-general of the Society of Will Writers, who believes there is a common misconception among many people that last testaments are only useful for those who have a large amount of funds to allocate to their beneficiaries.

Mr McMillan insisted that this is not the case, as such documents are not necessarily always completely about wealth and added there are plenty of other reasons why compiling a last testament is a good idea.

He stated that wills are "about appointing guardians" and "ensuring that those who you love are provided for when you die", as well as sorting out aspects such as tax and money.

This comes after recent research conducted by Standard Life found that 51 per cent of all UK adults do not currently have a will.

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Posted by Richard Saunders