The Coronavirus Outbreak Sparks a 76% Surge in the Will-Writing Industry

At the end of March 2020, deVere Group (the world’s largest independent financial advisory organisation) reported that there had been a 76% increase in the demand for writing wills. Many UK will-writing companies and solicitors have also reported a 70% increase in the number of people needing to create wills, with some firms having to turn potential clients away.

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Why are more people getting wills now?

It comes to no shock that this drastic jump in the number of people wanting to write a will has occurred because of the Coronavirus (Covid-19) pandemic and the devastating impact it has had on thousands of individuals and loved ones across the nation.

deVere Group states that the Coronavirus outbreak has caused people’s minds to be “more focussed” on things like financial planning and protecting loved ones in the event of sudden and unexpected eventualities, like death.

When it comes to planning for death, retirement or any other type of major life event, it is not generally something that people rush to get done. Such issues tend to stay in the back of people’s minds as something that should get done ‘at some point’, but in many cases, it often takes an illness, death or other significant life change to happen before people start considering the importance of writing a will and putting financial protection in place.

The CEO of deVere, Nigel Green, has stated: “With frightening death tolls and confirmed cases, with more people than ever bravely risking their own health to help others, and with more people with more time on their hands due to social distancing measures and lockdowns, the coronavirus pandemic has had an unprecedented, collective focusing-of-minds effect.”

Do I need to make a will?

It is often assumed that wills do not need to be created until later on in life and that it is a task usually carried out by older people, but this isn’t true.

As the Covid-19 pandemic has explicitly shown, life can sometimes take a turn for the worst and unfortunately, unexpected things can happen that are completely out of our control.

For this reason, it is important to create a will so that you can take back some of that control, as it allows you to protect your assets, such as your home, money and/or treasured possessions, and ensures that your loved ones are cared for in the event of your death.

Dying without a will, known as dying intestate, means that your estate (assets) will be distributed in line with UK law, rather than your own personal wishes.

This can, of course, cause disputes and distress among family members at an already-difficult time, but having a legally-valid will in place can prevent this from happening and your loved ones will know exactly where they stand, giving them the time and space they need to grieve in peace.

The main reasons why people make wills are:

  • Your assets will go to the people you choose.
  • You can choose an executor to manage the distribution of your estate, allowing you to inform them of any concerns you might have beforehand, so you can rest easy knowing that it will all be taken care of in line with your exact wishes.

Read our guide here to learn more about the reasons for needing a will.

 

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Who can witness a will?

Remember, for a will to be legally-binding, 2 witnesses must watch you sign your will (they must not be beneficiaries or executors of the will), and each witness must also sign it themselves.

If you don’t do this, your will is likely to be invalid and any wishes you’ve stated are unlikely to be met, as your estate will automatically be shared out as per UK law.

While the current Covid-19 lockdown and social distancing rules may make it difficult for people to get their will witnessed, it is certainly not impossible and there are a few ways in which you can do it while abiding by the law.

For information on how to get your will signed while the social distancing rules are still in place, read our guide How to Make, Amend or Sign Your Will During the Coronavirus (COVID-19) Lockdown.

Write a will online today with Wills.Services

At Wills.Services, we understand that writing and creating your own will can seem daunting, so we’ve made the whole online process as simple, efficient and straightforward as possible.

You can make a will with us for as little as £29.99 and have peace of mind for the rest of your life knowing that your assets will go where you want them to and your loved ones will be financially covered when you pass away.

To write your will with us today, simply register to use our secure, easy online tool to write and submit your will digitally. Our team of legal professionals will then check your will to ensure it is legally-binding and when everything is confirmed, we will send your will via post so that you and your two witnesses can sign it.

Once the will has been signed, simply send it back to us and we’ll store it safely for you so that nothing ever happens to it.

Create your will with Wills.Services today, for peace of mind forever.

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For further information and advice, read our helpful guides below:

Wills

Make a will in three easy steps and protect your hard earned legacy.

Lasting Power of Attorney

If you are unable to manage your own affairs, an LPA (Lasting Power of Attorney) appoints someone of your choosing to do it for you.

Trusts

If you want to put some money aside for a specific reason, setting up a trust can help you do so in an orderly fashion.