Substantial rise in number of people making wills

Hu Min
The China Will Registration Center has seen more unmarried and celibatarian people making wills at younger ages.
Hu Min
Substantial rise in number of people making wills
Ti Gong

A staffer at the center shows a will.

The China Will Registration Center released a white paper on Tuesday showing that unmarried and celibatarian will registrants are rising and people having their wills done are getting younger.

Since its founding 10 years ago, the center has registered over 250,000 wills nationwide, and the average age of registrants has dropped from 77.43 years to 68.13.

The center's latest post-COVID survey found that 88 percent of respondents believed it was important to register wills, compared with 12.4 percent at the start, indicating that people are more open and accepting of the issue.

It reported 1,369 unmarried and celibatarian wills at the end of last year, up 120 percent from 2017.

A good 71.5 percent of registrants are women.

Substantial rise in number of people making wills
Shen Xinyi / SHINE
Substantial rise in number of people making wills
Ti Gong

Ding, who is unmarried and has an irregular work schedule, made a will.

"I was worried after reading quite a few news reports that some '996' and '007' (referring to people working 12 hours a day, six days a week, and even no rest) died suddenly," said Ding. "I want to leave some guarantees for my parents."

He made a will, leaving part of his property to his mother and part to a friend to care for her in case of an accident.

"I may be too young to register a will. But I don't think it's too early and hope it will make people appreciate life more."

Substantial rise in number of people making wills
Ti Gong

Residents make inquiry on will registration.

Liu Xiaowen, 33, lost her parents and inherited their property; she now lives with her grandmother, who is in her 80s.

"In case of accident, the property will be transferred to trust people to take care of my grandmother and ensure that she can live at the apartment," said Liu after registering her will.

The majority of celibatarian will beneficiaries are their parents, with nearly 20 percent being their friends.

Since 2017, the number of will registrants under the age of 60 has increased year on year, with those aged 30 to 39 accounting for 29.74 percent of the total as of the end of last year, indicating a younger trend.

Substantial rise in number of people making wills
Ti Gong

Will preservation storage

Meanwhile, COVID-19 has resulted in an increase in will registration, with approximately 40 percent of registrants reporting that the pandemic has accelerated their registration time.

"Many people began to recognize and consider the uncertainty of the future as a result of the pandemic. They treat life and death more rationally as a result," said Chen Kai, director of the management committee of the will registration center.

Substantial rise in number of people making wills
Reuters

Real estate is the most common asset in the wills of the young and middle-aged generations, accounting for 98 percent, followed by bank deposits (35.65 percent).

"The younger trend reflects the change in people's attitude toward life and death, which does not mean they are no longer worried and anxious about death but now have a positive view on their past experiences and future lives," Chen said.

"They view will registration as a starting point to think about and plan their lives, not the last chapter."

Substantial rise in number of people making wills
Ti Gong

Will registration

A 30-year-old single doctor surnamed Li willed his two apartments to his sister and parents.

He worked on the COVID-19 front line for three years.

"I seldom returned home over the three years, and I hope it will back up my sister and guarantee my parents' lives in case of the unexpected," he said.

According to the white paper, registrants under 30 focus on property protection, those in their 30s on family and property, and those in their 50s on marriage risks for children.

Among the young and middle-aged generations who registered wills, 11.27 percent are divorced people.

The center registered 3,009 post-1980s generation wills last year, up 200 percent from 2020. Housing was the main issue.

Ou, 40, has willed her apartment to her daughter.

"My husband thought it was inauspicious to register a will so early, but I was determined," she said. "I love my daughter and respect life."

She eventually persuaded her husband and even recorded a video for her daughter to encourage her to persevere if anything happens to her.

Another woman, surnamed Chen, 34, who will soon receive her marriage certificate, registered a will to return to her parents the apartment she inherited from them for their senior care.

"A will is a sensitive subject for my parents, but they finally accepted it," she said.

As of the end of last year, 25,979 people had registered wills in Shanghai through the center, accounting for 10.8 percent of the total, with 2,531 of them being young and middle-aged, accounting for 23 percent of the total.

The majority of will registrants in the city were between the ages of 60 and 70, with a younger trend observed.

Since 2019, there has been an increase in the number of stocks and funds included in their wills.


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