Despite being a fundamental piece of family financial planning, six out of ten (61%) of British adults don't currently have a will drawn up, according to research by Standard Life.

People with no children (41%) in the household are more likely to currently have a will in place than those with children at home (27%).

Looking at the age breakdown, more than two-thirds of 35 to 44-year-olds don't have a will in place, more than half of 45 to 54-year-olds, two-fifths of 55 to 64-year-olds and amazingly almost a quarter of 65 and overs are currently without a will.

Standard Life's research reveals that three out ten (31%) of those currently without a will claim the main reason is that they just haven't got round to doing it yet.

The next highest reasons are that people don't think they have any substantial assets or that they are too young (both 17%), followed by one in ten who simply haven't thought about it.