A white paper released by the China Will Registration Center saw an increasing number of young people had finalized their Last Will and Testament (also referred to simply as a will) in their early ages over the past few years, indicating a strong sense of property protection among younger Chinese, an expert said.
An analysis of 190,000 wills in the center shows a higher number of wills were drawn up by younger generations; ranging from post-80s, post-90s and post-00s, the white paper said.
A resident fills out a reservation card at the China Will Registration Center Shanghai branch. Photo: Yang Hui/GT
Sense of property protectionBeing superstitious is regarded among Chinese people as an ominous action which could lead to misfortune, and drawing up wills has not traditionally been popular among older generations.
The China Will Registration Center, a public welfare project launched in 2013, which provides free consultations, registration and custodial services to mainly senior citizens aged 60 and above, however, has received more and more young clients who don't see their Last Will and Testament as any kind of taboo.
"The increasing number of young people drawing up wills shows today's young Chinese people have a strong sense of property protection, and that drawing up wills is not just for seniors but also a must for anyone with a property," Huang Haibo, director of China Will Registration Center Shanghai branch told the Global Times.
A must for every ChineseAccording to the white paper, there were 503 clients from post-80s generations as of 2020, almost seven times the number of 73 in 2017, with 97.23 percent of their wills involving real estate. More than half of the post-80s purchased their properties together with their partners while others were financed by their parents.
Wei Qiu (pseudonym) from the post-80s generation registered with the center after some of her friends unexpectedly passed away in their 40s, realizing that arranging a will is not only something senior citizens should think about but actually a concept that every Chinese should accept, Wei told the Global Times.
In her will, Wei hopes to leave her apartment to her only child, since the apartment was purchased by her with her parents instead of with her husband. She drew up the will without acknowledging her husband.
"The increasing instability of marriage in today's society has prompted more young people to consider in advance how their properties shall be inherited and distributed if they pass away unexpectedly," Huang said.
Research also shows that post-80s are good at investing with 13.16 percent of their wills involving company equity and 15.89 percent involving securities and funds, which is far more than any other age bracket.
The main reasons for the post-80s generation to arrange wills are "to avoid property being forgotten" and "to take care of family members." As the mainstay of the society, people born in the 1980s shoulder huge pressures from their families and society, so they are obliged to think about wills as early as possible, the white paper read.
Residents consulting with the China Will Registration Center Photo: Yang Hui/GT
Preventive measure to avoid disputesMeanwhile, the number of post-90s clients reached 553 as of 2020, and even some young people born in the 2000s also wrote wills. Statistics show that the youngest client of the center is 17 years old.
Li Ya (pseudonym) born in the late 1990s has drawn up her will about the apartment she owns. She wishes to leave her property to her mother and prevent her future husband from getting any inheritance, Li explained.
"I often read relevant news about family disputes over property inheritance and distribution and I can easily accept new concepts, so I thought about drawing up a will in advance," Li told the Global Times.
"Compared with the remedial measures of expensive and complicated legal proceedings which usually take years to complete, a Last Will and Testament is a preventive measure that can nip disputes between grieving relatives in the bud," Huang said.
Brochures for the will center service Photo: Yang Hui/GT
New forms of properties and willsBesides, younger generations have a richer variety of properties to their wills. According to the content of post-90s generations' properties, apart from bank deposits and real estates, a distinguishing character of their wills is that they have virtual properties such as Alipay, WeChat, Tencent QQ and game accounts in their wills.
After the outbreak of the COVID-19 epidemic, the center launched its WeChat Will mini app, in which clients can leave their wills. Last year, the center received a total of 70,000 WeChat wills including 38.7 percent made by people aged between 20 and 30; 27.4 percent by people aged below 20, meaning younger people are more willing to accept wills rather than resisting or feeling antipathetic toward them. Clients can require the center to send WeChat wills to the designated person at a designated time.
According to Chen Kai, director of the management committee of the center, the inheritance part of the Civil Code stipulates strict requirements on the forms of wills. The legal provisions of the forms of wills include self-written wills, wills written by representatives, audio and video wills, notarial wills, oral wills and printed wills.
Since WeChat wills are not in compliance with these regulations, it is only applicable to deal with non-property affairs such as passing on love or advice on personal matters. The purpose of launching this new function is to let people convey their feelings through this warmer channel.
"I appreciate the video will service offered by the center where I can convey my affection to my child and accompany my child at every important moment in case I leave the world," Wei said.