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Life expectancy reduction - What does it mean?

News that life expectancy has reduced over the last year due to Covid-19, particularly for men, is in some respects perhaps no surprise - sad, but nevertheless true with the death rates we have sadly seen. 

Decreases in life expectancy are rare - and it may be 'just a blip' that levels out - but it does give pause for thought. If people may have an increased likelihood of dying at a younger age, the reality is that they will need their affairs to be more organised at an earlier stage - with wills, lasting powers of attorney and consideration of what they would like their care and treatment to look like should they suffer illnesses and require treatment.

It's sensible, whatever your age, to ensure your affairs are in order and your wishes are clear - but perhaps this sobering news of reduced life expectancy will be a trigger for more people to get their affairs in order earlier.   

Life expectancy for men in the UK has fallen for the first time in 40 years, according to Office for National Statistics (ONS) estimates. Life expectancy at birth in the three years to 2020 was 79 years for men, falling back to a level last seen in 2012-14. Female life expectancy was virtually unchanged, at just below 83. Normally, life expectancy in the UK and around the world increases over time - and falls are rare. But the Covid-19 pandemic saw life expectancy fall across most of Europe and the USA in 2020, on a scale not seen since the World War Two, according to research from Oxford University.

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private legal services, probate, tax and estate planning, wills