The Covid-19 pandemic has highlighted that life can be totally unpredictable. The current scenario has brought conversations of life and death to the fore and sharpened the focus on the importance of drafting a will.
Global statistics indicate that the demand for wills has increased across the world. It has been reported that in Australia, the demand for wills soared by 300% in March. “There has also been a sharp increase in the demand for wills in the United States, while the BBC reports of wills being signed on car bonnets and witnessed through windows as Brits rush to complete wills – while still complying with strict legal requirements,” Business Insider reported. A UK financial advisory firm confirmed that the coronavirus crisis has triggered a 76% increase in demand for wills in the last fortnight alone.
In South Africa the demand for wills has also increased. According to will and testament drafting firms, Capital Legacy, the recent uncertainty has prompted a distinct increase in requests for estates to be secured and for wills to be drafted. Between January and March this year, Capital Legacy says they’ve seen a 660% increase in enquiries for wills, compared to the same period last year.
According to the CEO of Capital Legacy there are some problems posed by lockdown regulations when it comes to getting wills finalised, with witnesses and other relevant parties unable to co-sign the documents as they usually would. He said that there is currently no digital contingency for the signing of wills, as the documents need to be signed by relevant witnesses in person.
This is an excellent reason for contacting your clients and enhancing your value as a service provider, rather than a commission hunter.