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Making and Changing Wills

Author

Listed:
  • Cheryl Tilse
  • Jill Wilson
  • Ben White
  • Linda Rosenman
  • Rachel Feeney
  • Tanya Strub

Abstract

Wills are important social, economic, and legal documents. Yet little is known about current will making practices and intentions. A comprehensive national database on the prevalence of will making in Australia was developed to identify who is or is not most likely to draw up a will and triggers for making and changing wills. A national survey of 2,405 adults aged above 18 years was administered by telephone in August and September 2012. Fifty-nine percent of the Australian adult population has a valid will, and the likelihood of will making increases with age and estate value. Efforts to get organized, especially in combination with life stage and asset changes trigger will making; procrastination, rather than a strong resistance, appears to explain not making a will. Understanding will making is timely in the context of predicted significant intergenerational transfers of wealth, changing demographics, and a renewed emphasis on retirement planning.

Suggested Citation

  • Cheryl Tilse & Jill Wilson & Ben White & Linda Rosenman & Rachel Feeney & Tanya Strub, 2016. "Making and Changing Wills," SAGE Open, , vol. 6(1), pages 21582440166, February.
    • Handle: RePEc:sae:sagope:v:6:y:2016:i:1:p:2158244016631021
    DOI: 10.1177/2158244016631021
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    Cited by:

    1. Shinae Choi & Melissa J. Wilmarth, 2019. "The Moderating Role of Depressive Symptoms Between Financial Assets and Bequests Expectation," Journal of Family and Economic Issues, Springer, vol. 40(3), pages 498-510, September.

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