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Young People Are Lined Up to Make Wills

Although making wills is considered taboo in traditional Chinese culture, people in China have now lined up to make wills, possibly due to an awakening awareness of their private property rights. Hong Kong’s Asia Times reported that making a will appears to be trendy in China. Over 7,500 seniors have appointments with the China Will Registration Center in Beijing. Some of them have to wait for one year for their appointment. Meanwhile there has been a 30 percent increase in the number of young people over 30 years old making wills. The situation of their parents may be the reason for these young people to make a will. More and more young people designate parents as beneficiaries. They think it is better to leave assets such as real estate to parents than to leave them to others. In addition, another reason for young people to make wills is the high intensity of work pressure. They worry that, once they die from the stress at work, they have no guarantee to whom their property will be left.

Source: Sina.Com, October 27, 2018