By Marcus Leach
According to a survey conducted by HSBC two-thirds of UK parents do not have a will.
The results have sparked fresh concerns regarding financial planning at a time where the global economy is struggling.
Of the 17 countries surveyed only parents in Canada were more likely to have written a will.
The study surveyed 17,000 people around the world, including 1,000 in the UK.
"The fact that such large numbers of households are not planning ahead is leaving families greatly exposed to unforeseen events," said Christine Foyster of HSBC.
The report suggested that UK adults with children were less likely to have cash set aside for their retirement than childless adults.
A staggering 84% of those surveyed did not have a will.
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