Coronavirus has prompted a 76% jump in the demand for wills in the last two weeks, reveals independent financial advisory organisation, Devere Group.
Devere Group said the “dramatic increase” for its wills service has been driven by people’s “minds being more focused” on certain aspects of financial planning due to the current pandemic.
Devere Group CEO Nigel Green said: “Like too many aspects of financial planning, including retirement planning, drawing up a will is not something that most people rush to do.
“It remains ‘on the back burner’ until something, such as an illness or a change of circumstances, focuses minds.
“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.”
Green added: “Pandemic or no pandemic, the importance of having a will cannot be underestimated – and they’re not just for the elderly. Circumstances can change for anyone at any time and for so many different reasons as this pandemic is, unfortunately, proving to be all too true.
“Having a will gives you the peace of mind of knowing that the rewards of your life’s work – both financial and sentimental value – will be handled according to your wishes. You’ll be helping your loved ones avoid going through the burden of unnecessary stress, legal hurdles and potential tax issues during a time of grief. It can help them retain the quality of life you have created together.”