According to the research, parents in Wales are almost completely unaware of the risks of not identifying a legal guardian in a will. Only one in ten parents in Wales (13%) understand that social services or the courts can step in to decide what happens to your children if you don’t have a will in place.
SFE, a membership body of over 1,700 UK solicitors specialised in advising people planning for the future, is calling on parents to make sure they have an updated will in place ahead of Update Your Will Week 2023 (23rd – 29th January).
Kasia Davies, Solicitor at J A Hughes, explains: “It’s shocking how many parents don’t have a will in place or haven’t appointed a legal guardian for their children. Godparents don’t count as legal guardians, so to avoid the risk of the courts deciding what happens to your children, you really should make a will and update it every five years.
The new research commissioned by SFE and carried out by Censuswide also reveals:
- Only 50% of respondents in Wales have updated their will within the last five years, meaning half of the wills in the country are out of date.
- Around a quarter of respondents in Wales (24%) have experienced a life changing event, such as getting married, divorced or having a child, since they last updated their will.
- One in ten (12%) of respondents in Wales know someone who has been affected by something going wrong with a will.
J A Hughes recommend reviewing and updating your will every five years, or when a major change in your life occurs that impacts you or your loved ones, such as divorce, marriage, a new birth or even death in the family. Having an up to date, well drafted will is crucial in ensuring your wishes are carried out in the way you’d like when you die.
To find out more about wills contact us on 029 2061 9700.