Omnium Wealth Management

Coronavirus prompts adults to action their wills

A recent survey found that almost three in ten female respondents (28%) and 19% of male respondents said Covid-19 has made them more likely to create a will.

The January 2021 survey was carried out by YouGov on behalf of heir-hunting company, Finders International and polled 2,300 UK adults.

The research also showed 59% of those polled did not have a will, with this figure rising to 85% of those who were under the age of 35.

Nearly a third (29%) of respondents over the age of 55 did not have a legally valid will.

Usually, the law in England and Wales requires a will to be signed “in the presence of” at least two witnesses, and then signed by those two witnesses, to be deemed legally valid.

Due to the pandemic, however, witnessing of wills over video-conferencing platforms such as FaceTime or Zoom is legal until 31 January 2022.

Mona Patel, Consumer Spokesperson at Royal London, said:

“The coronavirus has spurred adults in the UK to take action on their will as many people are finding themselves with more time at home to prioritise their personal finances.

“These figures echo previous research carried out last year, which show that the coronavirus and concerns for becoming ill were both prompts for people to update their will during the pandemic.”

More than three in four (76%) adults surveyed said they do not know a lot about what would happen to their assets if they died without a legally valid will.

We can help

As well as ensuring you have an up to date will, you need to plan for the future to make sure your estate is passed on as you wish and to those you wish to benefit. We can offer a full estate planning service. Read more about our service here or get in touch with one of our advisers on 01483 205890.

Back to News Index

« Read Previous