Blog

The coronavirus pandemic has led to wide-ranging changes across the country and the property industry is facing it’s own particular challenges. The message in Scotland is still to “Stay At Home’ and many landlords are no doubt struggling with the impact this is having. Thousands of businesses will be working with limited capacity and limited income, causing problems with their cash flow, which will in turn impact on the ability to pay rent at the same rate. Likewise, with 6.3 million people temporarily laid off by 800,000 companies and nearly a quarter of British employees furloughed in the last fortnight, according to HMRC, domestic rent will be a struggle for many.

Coronavirus (COVID-19) has significantly impacted businesses in the UK, with whole industries - such as hospitality and travel - almost grounding to a halt, leaving many employers facing tough decisions when it comes to staff retention. In light of this, and in a bid to support those impacted by the virus, the government announced the introduction of temporary new measures. These measures come as welcome news to employers, as they aim to provide financial assistance to help businesses retain their workforce through the coronavirus crisis and safeguard workers from being made redundant.

We as a nation have entered into uncharted territory as a result of the current coronavirus (COVID-19) pandemic. With our daily office trips and weekend activities stripped from our usual routine, we have been put in a state of unease about what we can and cannot do.  Although there are not many things we can control just now, one thing we can do is take this extra time at home to reflect on our estate planning. Getting your legal documents in order, especially your Will, is one of the best ways to use this time effectively.

According to the Law Society, the number of people looking to write new Wills in the UK has risen by at least 30 per cent following the outbreak of coronavirus. Nevertheless, the process of creating and amending Wills relies heavily on face-to-face interaction, which makes the government measures to stay at home and self-isolate more challenging. It’s crucial that during this period, you do not delay getting your estate planning in order. Being in lockdown is an unusual situation to adapt to, however it has also created an opportunity for people to get overdue tasks completed, including writing or revising your Will. At Macnabs, we are always available to assist you and will continue to offer trusted guidance, no matter your legal need. To speak with a member of our team about your estate planning, call us on 01738 623432 or complete the online enquiry form and one of our lawyers will get back to you as soon as possible.