More and more young people are making wills.

The China Will Registration Center report shows that the number of households and individuals making wills increased by nearly 19% over four years.

The average age of testators has fallen from 77 to 67, with a particular increase in applications from young and middle-aged people.

During the 2017-2023 period, the unit recorded an increase in the number of consultations in this age group from 931 to 17,101, while cases of will storage increased 24.5 times.

The assets in wills have changed significantly, concentrated in online banking, gaming and virtual currency assets. The center has received 488 wills related to online assets, of which people in Beijing, Shanghai and Guangdong accounted for more than 89%.

A 21-year-old woman at her will-making session in Beijing, March 2022. Photo: qq

The China Will Registration Center has 60 branches nationwide, providing will making services to 479,000 individuals and protecting wills for 310,000 cases after 11 years of operation. They conduct surveys and evaluate will making trends every year according to changes in the economy and society.

Median household wealth has increased over the past three years, from $872,000 to more than $1.13 million. Assets are becoming more diversified. Those over 60 often hold real estate, company shares, securities, financial management contracts and valuable collectibles.

Among young and middle-aged people, real estate accounts for more than 97% of registered assets and bank deposits are 35.5%.

The report said that more and more unmarried individuals have prepared wills since 2017, with women making up nearly 70% of this group.

In 2020, the center launched an app on WeChat that helped create 97,347 online wills. Young Chinese are loving the service, with 26% of those under 20 participating and 35% of those aged 20-29.

Wills have no legal force, but at its peak, 1,000 people filed applications a day. The platform also allows users to schedule appointments with the China Will Registration Center.

Ngoc Ngan (According to Sixth Tone )

Source: https://vnexpress.net/ngay-cang-nhieu-nguoi-tre-lap-di-chuc-4725581.html