Public fails to chart financial assets in wills
Nearly three-quarters of the British public do not have a will that clearly charts their financial assets, research has revealed.
Some 73% of Britons have not documented financial assets such as pension plans and life insurance policies in their wills, a YouGov survey of 2,384 adults, on behalf of digital mapping and land data intelligence company Landmark Information Group, has found.
Meanwhile, 16% of those surveyed admitted it would be difficult for their spouse or family to discover the whereabouts of all their financial assets.
It is estimated that more than £15bn of assets remain unclaimed in the UK.
Landmark managing director James Sherwood-Rogers said: ‘It is alarming to hear how many individuals do not have their financial assets clearly documented and it is no surprise there are so many unclaimed accounts and policies in the UK.’