Majority 'ill-prepared' for illnesses and accidents

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The majority of the population is ill-prepared for the event of a severe illness or serious accident, according to research from Standard Life.

A survey of 1,010 adults reveals half do not have a will, three-quarters do not have a power of attorney and 3% own property abroad but do not have a will in that country to cover the property. In addition, the survey suggests people with children are less likely to have a will than those who have none, while people who are widowed, separated or divorced are more likely to have a will than those who are married or cohabiting. Julie Hutchison, national development specialist of estate planning for Standard Life, believes a will and power of attorney should be “bread and butter” planning...

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