The coronavirus pandemic has created new challenges in many fields, including succession and estate planning. Now is an important time to consider and address how changing circumstances may have impacted on your succession and estate plans. One of the main challenges relates to changes in asset values. The volatility of the market throughout the pandemic is likely to have impacted the value of an estate. For example, certain shares may now have substantially different values. Similarly, superannuation withdrawals may create inequalities under a will or succession plan which now need to be addressed. Furthermore, issues may arise where parents are stepping in to financially assist struggling family members. In these instances, it is vital that arrangements are documented properly. Finally, the pandemic is having the unfortunate effect of increasing bankruptcy concerns for many people. This necessitates different approaches, for example ensuring inheritances pass via testamentary trust to protect beneficiaries under a will. Contact M+E to ensure that your succession and estate planning is up to date.