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Coronavirus has had an impact on almost every part of life in 2020 – but one thing people may not expect is that it has made us think about what to do with our estates if we passed away.
Since the nationwide lockdown began in March, the number of people putting wills in place has surged by 69% with many taking the lockdown period as a point to get things in order.
But according to worrying new data from the Co-op, most (74%) have not had a conversation with their loved ones about what to do in the event of our death. This includes funerals plans or how people wish their money to be shared.
The data comes with a sharp warning that the sudden rise and lack of conversations could lead to estates not being passed to those as they intend.
With the increasingly diverse nature of families, it is critical that any wishes are clear for those left with the responsibility of executing them. As a result, solicitors across the UK are preparing for a spike in contentious probate as plans have not been previously discussed.
Many of us say we want to depend on friends and family to take up the role of executor, so it’s vital that people understand their options and that the role is properly explained.
Aston spoke to Jeff Brazier, TV presenter, reality star, author and life coach to discuss the research in further detail.