The COVID-19 pandemic has shifted British attitudes towards death and legacy planning.
- Research shows an increased openness to discussing final wishes and funeral plans.
- Particularly among those over 55, nearly one-third are more willing to talk about these topics.
- Women’s likelihood to address these issues has risen more significantly compared to men’s.
- Charitable giving in wills is on the rise, with legal and tax implications being considered.
The aftermath of the COVID-19 pandemic has led to significant changes in how British individuals approach discussions about death and planning for their legacy. A recent study by Remember A Charity reveals a shift in openness towards discussing death and planning for the future. This change is referred to as moving from pandemic to ‘plan-demic’. The study highlights that over a quarter of all Brits, increasing to almost a third among those over 55, are now more inclined to plan for their final wishes and funerals.
Women, in particular, have become more proactive in addressing issues surrounding mortality. The study finds that 29% of women, compared to 24% of men, are now contemplating and planning for what lies ahead. Traditionally considered a taboo subject, death is being discussed more openly, with one in five UK residents no longer perceiving it as a forbidden topic. Nevertheless, a minority still struggles with such considerations, with 8% unable to confront writing a will.
Despite this growing openness, many Britons have not yet formalised their plans. The primary reason cited is procrastination, with 18% of respondents stating they have intended to write a will but have not done so. Other reasons include a belief in being too young or lacking sufficient assets to justify will writing.
Post-pandemic, there has been a notable increase in the propensity for charitable giving, with 21% of Brits indicating that their inclination to support charitable causes has grown. Remember A Charity’s study found that more individuals aged 40 and above are considering including a charitable gift in their wills. This trend is particularly evident among the 40-50 age group, where over a third have opted for such legacies.
Legal provisions also offer financial incentives for charitable donations in wills. Donating 10% or more of an estate to charity can result in a reduced inheritance tax rate of 36%. However, a concerning 58% of UK residents aged 40 and above remain unaware of this benefit, highlighting the need for greater awareness and education on inheritance planning.
Lucinda Frostick, Director at Remember A Charity, observes that the pandemic has altered perspectives on end-of-life planning. She notes with approval that people are increasingly willing to discuss their final wishes with family and friends, and that there is a growing appetite to include charitable gifts alongside familial bequests in wills.
Charitable gifts left in wills are pivotal, generating £3.5 billion annually for UK charities. Such contributions fund critical services, including lifeboat rescues and Marie Curie’s vital cancer care work. Moreover, they support international efforts, such as those by animal welfare organisations, underscoring the far-reaching impact of such generosity.
The pandemic has catalysed a transformative shift in how Britons view and plan for their mortality and legacy, with far-reaching implications.
