Couples ‘are not talking enough about estate planning’

Posted 26/08/2010

British couples could be risking problems later in life because they are not discussing estate planning and Wills with each other.

This is the conclusion of a new study by Prudential, which found that 32 per cent of people over the age of 40 but not yet retired do not know the details of their partner’s retirement savings or plans.

Meanwhile, 22 per cent said they have never discussed estate planning together and 12 per cent of women and 11 per cent of men said they know nothing and are not interested.

Any Brown, spokesperson for Prudential, said: “Essentially, this could mean millions of UK adults are banking on hope as their core retirement strategy.”

The company recommended regularly discussing retirement and inheritance plans and suggested couples broach the subject of Wills first, ideally before they are 45.

In May 2010, Wills and probate expert Ian Bentley told Click Lancashire it is essential to use an accredited solicitor when making Wills, as he has seen many mistakes in the past when people have not done so.