Many innocent people lost their lives as a result of the COVID-19 pandemic. In many cases, family members of the deceased have had to not only cope with the loss of a loved one, but also face the hassle of running around to claim their assets. The pandemic thus brought to light the need for succession planning. This article will state what a will is, and explain what happens when a person dies without a will. It will also show (with an example) how to make a will.
The ongoing COVID-19 pandemic has instilled a lot of fear and uncertainty in people’s minds. This is quite understandable because as of 23 June 2021, 3.9 lakh people have lost thier lives to the virus. This fear has also led to an urgency among people to create a will. If something happens to them, and a will is in order, their family won’t need to run from pillar to post to claim their assets.
Let’s consider some statistics:
Rohan Mahajan of Lawrato.com says that earlier their client demographic for making a will was over 55 years of age. However, in 2021, the average age of clients making a will has dropped to 45.
WillStar, a free online tool for making a will, has received three times the average monthly number of inquiries compared to last year.
WillJini, a successi...