Inheritance tax UK: Will creation struggling despite the ‘murky waters’ of estate planning

“Without a will, people can’t just assume everything will pass on to their next of kin – the laws of intestacy can often be murky waters.”

A similar sentiment was shared by Farhad Divecha, the managing director and founder of AccuraCast, who had the following to say: “It is interesting to see, that despite a will being one of the most important financial documents a person should have, regardless of their age, 60 percent of people still do not have one.

“It does become something people appear to be more interested in as they got older – but this is an ‘end of life document’ and without being morbid, no one can predict when that will be.”

Wills can be created by estate holders themselves but they can easily be made invalid if they’re not completed correctly and as such, it is usually advisable to seek out professional help when creating them.