Many elderly Britons have yet to make a will, Unbiased.co.uk has said.
According to the financial website, 41 per cent of 50 to 59-year-olds and 26 per cent of 60 to 69-year-olds have yet to plan their estates in this way.
This could potentially lead to big family feuds and an increased inheritance tax burden, under current intestacy rules.
At the moment, unmarried couples have no rights over each other’s estates if one of the partners die without making a will.
Married people can also only automatically inherit £250,000.
This means that many elderly people can face a battle to get assets belonging to their deceased partner or a big tax bill.
In turn, this could increase the likelihood that they will need to seek out financial solutions such as equity release to make up for income lost on legal or tax costs.
Karen Barrett, chief executive of Unbiased.co.uk, said: "By having a will in place families can avoid worry and stress at an already difficult time."
She added: "If someone dies without a will, assets are distributed according to the rules of intestacy – this could mean assets and money going to people the deceased had not wanted to benefit, meaning that your family could be left to dispute over your estate."
When those who had not written a will were asked by Unbiased.co.uk why they had not done so, 43 per cent said that they "haven’t got around to it yet".
Recent research by Key Retirement Solutions, the UK’s largest independent equity release specialist, showed that amongst their customers, aged 55 and over, 71 per cent did not have a will.
