Making and Changing Wills: Prevalence, Predictors, and Triggers

SAGE Open, Pp. 1-11, February, 2016

11 Pages Posted: 30 Jun 2016 Last revised: 14 Jul 2016

See all articles by Cheryl Tilse

Cheryl Tilse

University of Queensland

Jill Wilson

University of Queensland

Ben White

Queensland University of Technology - Faculty of Law

Linda Rosenman

University of Queensland

Rachel Feeney

University of Queensland

Tanya Strub

Queensland Government - Queensland Government - Department of the Premier and Cabinet

Date Written: 2016

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.

Keywords: Wills, Inheritance, Intergenerational Transfers, Succession Law

Suggested Citation

Tilse, Cheryl and Wilson, Jill and White, Ben and Rosenman, Linda and Feeney, Rachel and Strub, Tanya, Making and Changing Wills: Prevalence, Predictors, and Triggers (2016). SAGE Open, Pp. 1-11, February, 2016, Available at SSRN: https://ssrn.com/abstract=2802384

Cheryl Tilse (Contact Author)

University of Queensland ( email )

St Lucia
Brisbane, Queensland 4072
Australia

Jill Wilson

University of Queensland ( email )

St Lucia
Brisbane, Queensland 4072
Australia

Ben White

Queensland University of Technology - Faculty of Law ( email )

Level 4, C Block Gardens Point
2 George St
Brisbane, QLD 4000
Australia

HOME PAGE: http://staff.qut.edu.au/staff/whiteb/

Linda Rosenman

University of Queensland ( email )

St Lucia
Brisbane, Queensland 4072
Australia

Rachel Feeney

University of Queensland ( email )

St Lucia
Brisbane, Queensland 4072
Australia

Tanya Strub

Queensland Government - Queensland Government - Department of the Premier and Cabinet

100 George St
Brisbane City, QLD 4000
Australia

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