Since the beginning of the coronavirus pandemic, the number of wills has increased massively.
The number of people writing wills online or making wills over the phone has increased 267 percent in the past 12 months Goodbye.
The largest increase came from under 35 years of age with an increase of 300 percent. In April alone there was a 12-fold increase, with the average age of willmakers falling from 50 in 2018 to 47 years.
Seven percent more people left gifts to friends and family in 2020, with the average discount being £ 9,031.46 – around 13 percent less than in 2019. People in their forties left the largest monetary gifts with an average of £ 10,029.59 in 2020 .
Almost every fifth gift is jewelry and more than one in ten is a memorabilia or collection.
Despite financially uncertain times, more than £ 150,000,000 was donated to charity in 2020.
Charitable donations peaked in April with £ 35 million pledges. That’s 775 percent more than before the pandemic began, where there was an average legacy of around £ 4 million a month.
A quarter of all gift donations went to cancer charities, but the donors were the most generous to religious organizations.
Dan Garrett, CEO of Farewill, commented: “2020 was a year like no other, and this was reflected in the way we thought about and planned death. Almost three times as many people wrote their wills with us as in 2019.
“It’s clear that we’ve all been thinking more about our mortality since the pandemic. Death is hard to think about, but it really makes sense to plan for the future as it will help your family across the board.
“One of the greatest privileges of our work has been to see evidence every day that kindness wins. Most of the time, when faced with our own mortality, we think first of the people and causes we love.
“We have been more generous than ever to our loved ones and charities.”