Talkin' 'bout my generation

For years, the 50-plus market has been seen as the bread and butter of private client solicitors. Wills, LPAs and estate planning resonate in particular with this age group, with its members usually well aware of the importance of having such legalities
in place.

Generation Y, meanwhile, has been left to its own devices somewhat, with our profession tending to resign itself to the fact that these people aren’t, for the most part, interested in future planning.

However, we recognised some time ago the need to challenge the perception that wills were something that only middle-age people needed to concern themselves with. After all, there is an untapped market of people who will one day need a will, and
it is becoming increasingly important to identify new ways to target this crucial group.

Doing so is clearly going to be a challenge. There is a stigma attached to wills, with the traditional advertising imagery tending to show older couples or grandparents in need of such advice. Adverts rarely, if ever, feature a young couple or family planning their affairs. It is clear why younger adults switch off to talk of future planning.

But this isn’t just about business. There’s also our role in educating people in the 20 to 50 age bracket about the difficulties their loved ones could face should they die without having made plans for the distribution of their assets.

To that end, we are developing initiatives to attract generation Y’s attention, encouraging them to think about the importance of wills while informing them of our own offerings.

The first step is to understand what is important to them. Many 30-somethings may not own a house, for example, but what do they own that is of value? Technical assets, such as iTunes accounts, are widespread among this age group, with anecdotal evidence revealing that users are accumulating thousands of pounds worth of music, TV and film downloads through their accounts.

With that in mind, we have worked with our marketing team to highlight the value of technical wealth, and have received positive feedback from many who have been astonished to learn that their iTunes account was even considered to be valuable in the first place.

It isn’t just about what this generation owns. It’s also about their lifestyle and what they do. Those who work in dangerous environments, those who are at particular risk through genetics, parents of young children, etc. Wills are relevant to a wide range of younger people, and they need to be made aware of their importance.

So, how do we reach this younger market? Through the same trusted model we have always used: communication. Whether it’s via social media, online features or magazine articles, we’re bringing the matter of future planning to life for the younger generations.

Our carefully planned campaigns are vibrant and youthful, from the tone and style in which we speak, to the imagery and messaging we use to identify the issue. It’s all about making wills relevant through the most appropriate means. And we are seeing the younger generations considering their futures as a result.

As the saying goes, there are only two certainties in life: death and taxes. While it’s hard to forget about the second, it’s easy to forget about the first. We gently remind people that while we can’t control when we die, we can control the situation we leave behind. And that’s something that should matter to us all, regardless of age.

Claire Currie is a partner at Kirwans