Creating wills and estate plans are usually not a priority for investors, as nearly half say they have neither, but Covid-19 has caused many to evaluate that aspect of their financial security, according to a report by Wells Fargo.

The Q4 Wells Fargo/Gallup Investor and Retirement Optimism Index shows that 34% of investors said they have a written will, 4% have written estate plans, and 17% have both. The report is based on a Gallup Panel web study of 1,709 U.S. investors, aged 18 and older, from Nov. 9 to Nov. 15.

It shows that higher-income investors are no more prepared than other investors, but the percentage with either a will, estate plans or both does increase with age. The percentage with no preparations declines from 70% for investors under age 50 to 17% for those 65 and older.

The report shows that those with a will or estate plan in place do not necessarily communicate it to family members or heirs. Sxity-five percent report they have only spoken a little or not at all to family members about their will or estate plans, and 57% believe they need to do more when it comes to communicating these plans. And although this changes with age, 45% of retired investors say they need to do more.

The report suggests that investors avoid the conversations about their will or estate because they may be confident that their family members understand and support their estate plan goals. It shows 35% are “highly confident” and 38% “somewhat confident” about their goals. Just 13% are “not too confident” or “not at all confident,” while 14% say they have not set these goals.

As for those who talk to family members, slightly more than half indicated that they do it out of obligation, while 14% avoid it, 10% dread it and 14% do not ever do it. But then there is 11% who said they enjoy it.

Further, 56% of investors endorse the idea of including a “letter of wishes” in their will detailing matters ranging from funeral arrangements to how they want heirs to use their money or other assets. Higher-income investors, the report showed, are much more likely to want to leave a letter of wishes (70% versus 56%).

And while 62% prefer to leave it up their heirs to do whatever they choose with the money and assets willed to them, 35% want to determine the specific impact their estate has through directions they leave behind.

But having a specific impact after you are gone is difficult to do without discussing your goals with family members while you are able to, Michael Liersch, head of advice and planning for Wells Fargo’s Wealth & Investment Management division, said in a statement. “The perception that family members are in sync with their wishes may be true for some investors, but for others, that may need to be confirmed,” he said.