You Might Be Terrified Of Drafting A Will During COVID-19. Here Are The Steps To Do It Anyway.
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The coronavirus pandemic undoubtedly has you on edge. We’ve all been forced to face our fears in some way, whether it’s the fear of falling ill, losing a job or having to spend time alone.
With all these anxieties and unknowns weighing on your mind, it might feel like there’s suddenly a pressing need to get your affairs in order ― just in case.
According to Andrew Simpson, the national head of wills and estate planning at Maurice Blackburn Lawyers, there’s been a significant spike in wills enquiries from “age brackets across the board” during the COVID-19 crisis.
“You would think that it would be something that would prompt older people to think about their wills... we’ve been surprised at the number of younger people who have actually made enquiries with us to prepare wills,” Simpson told HuffPost Australia.
“Our data shows us that actually the demand from the 24- to 35-year-old bracket has been strong.”
Social distancing rules have posed issues in terms of lawyers and public trustees having initial face-to-face meetings with clients, as well as witnesses being able to sign the documents in person.
Here’s what you need to think about when putting a will together and how to navigate the process, particularly during this time of self-isolation.
What You Need To Think About When Drawing Up A Will
What Does My Will Cover?
The first thing to consider is what you can actually give away. Make a list of assets you own, and don’t forget items of sentimental value as well, such as watches, jewellery, plate collections, etc.
“Some people think that they can give away their half interest in the family home even though they own it jointly with someone else. You might not be able to do that because if you die first, the survivor owns it automatically,” said Simpson.
It’s best to get your list together before...
