CHINA / SOCIETY
Number of Chinese young people drawing up wills nearly triples
Published: Apr 12, 2021 11:05 PM
File Photo:VCG

File Photo:VCG


 
No longer exclusive to the elderly, the number of Chinese young people making wills has nearly tripled since the COVID-19 epidemic. The impact of the epidemic and increasing awareness of risk prevention and the need for independence are believed to be behind the rise in demand.

According to a white paper released by the China Will Registration Center in March, the number of wills drawn up by younger generations of Chinese people in 2020 was about three times that of 2019, with even people born after 2000 making wills.

According to statistics in the white paper, the youngest individual who has registered at the center is 17 years old.

A total of 503 people from the post-80s generation and 533 people from the post-90s generation have registered their wills at the China Will Registration Center as of 2020.

The increase in interest among young people is believed to be related to various factors, including the impact of the COVID-19 epidemic since 2020, the increasing amount of property owned by young people and their enhanced consciousness of risk prevention.

The epidemic brought uncertainty about life for a lot of people, especially those born in the 1980s who are now under great pressure both from their families and society. 

“We have been getting more questions from young people about making their wills ever since the epidemic. And the clients also have mentioned the pressure they are facing as part of the reason why they come here,” a staff member surnamed Wang from Dayu notary office in Central China’s Henan Province also told the Global Times on Monday.

According to the statistics in the white paper, 80 percent of the clients from the post-90s generation have their own houses or apartments, mostly bought by their parents but registered under their own names.

Four percent of young Chinese people who drew up wills in 2020 didn’t have their own home, suggesting that young people are getting more aware of the importance of arranging wills in advance.

Virtual property such as social media accounts with Alipay and WeChat and video game accounts, as well as investments in funds are becoming more common among people in their 20s who are drawing up wills.

However, according to the white paper, the nationwide number of people with wills is still less than 5 percent.

The China Will Registration Center said in the white paper that many people still feel uncomfortable talking about wills and even the authorities neglect the issue.

Wang explained that people actually do not need to go to a notary office to make their wills because “a will composed by an individual themselves at home, whether in the form of text or video, would also be legally effective, based on the Civil Code of China.”
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