What Impact Did the Pandemic Have on Estate Planning

Discussing what changed during the pandemic was a popular topic of discussion in many circles. Estate planning probably tops the list along with some others. The Do-It-Yourself (DIY) world of estate planning and settlement exploded, evolving more in eighteen months than the previous eighteen years! 

Consider this: at the beginning of the pandemic, one online Wills provider saw their business increase over 600% from the previous month. What happened?

What happened was, people went into lockdown, read the news, and started to think.  What they thought was ‘If I get sick, I’m going to the hospital. I’m not going to my lawyer’s office to get a will.  And if I’m in hospital, my lawyer is not going to come and see me.  I need to get a will, and I need to get it right now.’

Another major change was what has been called ‘The Death Positive Movement’, which simply means people decided it was okay to talk about death and dying.  Death has been ‘one of those things we just don’t talk about in this family’ forever.  No longer. Many people are now thinking about, and more importantly, talking about, death, dying, their end of life wishes and their estate plans. 

While people’s mindsets were changing, so were the professionals that help with death and estates. Professionals in the funeral business for example are far less focused on profits and far more concerned with caregiving, ‘deathcare giving’ to be more precise, and providing ‘aftercare services’, and have become Bereavement Professionals.  It’s a remarkable change.

Likewise, the DIY world of estate planning and settlement options has exploded.  There are now all sorts of great products and services available for those planning their estates, called ‘testators’, those settling estates, called ‘executors’ and those inheriting estates, called ‘heirs’.

The pandemic has changed everything to do with end-of-life issues and estates, which is an incredible silver lining. More and more people feel comfortable talking about these issues, helping ensure their estates are well prepared, and helping build the legacies families have desired for years.