Family Matters: Why The Wealthy are Reconsidering Their Estate Plans

Private Wealth Services Partner Shari Levitan was cited in an Estatenvy article discussing prevalent estate planning trends during COVID-19. The pandemic has ignited an urgency for high-income individuals to reconsider their original plans for their estate. Under duress of these conditions, many people are seeing the recipients of their estate in a new light. Real estate in particular is posing an interesting scenario, as many high net worth individuals are seeking to purchase properties that can meet both their immediate and future needs.

“Many [high net worth individuals] are looking for properties that are addressing their needs,” said Ms. Levitan, “whether it's new acquisitions or additions, increased pantry space, outdoor amenities for exercise, [or] use of space for the delivery for groceries. Some are looking to invest in property that helps them achieve certain tasks without having to get on a plane. Accessibility and ease of living is the priority.”

READ: Family Matters: Why The Wealthy are Reconsidering Their Estate Plans