I'm Young. Do I Need a Will?

Family together on couch

10 Reasons Why You Need a Will Now, Even If You’re Young

If you’re youthful and in good health, it may be tough to see why you need a will now. It’s difficult to think about death and make major future decisions when you’re in the prime of your life. Nevertheless, it’s important to have a will drafted now, even if you might think you don’t need one. Here’s why:

  1. Something Could Happen to You: While no one likes to think about it, life is fragile and freak accidents do happen. Without a will, your estate will be distributed according to the dictates of the government rather than according to your wishes.
  2. You Want your Children Raised According to your Wishes: Should you pass away without a will, you won’t have a say in who raises your children or in how they are raised.
  3. It Helps Prevent Future Family Disputes: Without a will, your loved ones may fight over your assets and how to raise your children. A good will conveys your intentions with clarity and helps prevent division in the family should something happen to you.
  4. You Can Make your Funeral Wishes Known: If something did happen to you, what would the funeral look like? Where would you be buried? Would you be cremated? These are all questions you can answer in your will.
  5. You get to Decide What Happens to your Assets: Whether it’s your house, your car, your investments or family heirlooms, a will allows you to decide what will happen to your valuable property.
  6. It sets out When your Minor Children Will Receive Their Share of the Estate: Without a will, your children may receive their entire share of your estate upon reaching age 18. A will allows you to decide what you think the best age is for your children to receive their inheritance. 
  7. You Probably have Some Assets: Even if you don’t have kids and you think you don’t have anything valuable; you probably do have some possessions. Whether it’s a car, a personal collection or a family heirloom, you’d likely rather decide who those items will go to, rather than allowing them to end up at an estate sale. 
  8. You Appoint a Personal Representative: It’s important to have a personal representative who will manage your affairs responsibly after you’ve passed. Without a trusted personal representative, your estate assets may diminish considerably before reaching your beneficiaries.
  9. A Will Helps You Adapt to Life Changes: Whether you’ve recently gotten married, started your own business or bought a house it’s important that you draft a will that contemplates those changes. Who will take over your business if something happens to you? Who is entitled to your house if you pass away? These are important questions that your lawyer will help you answer when drafting your will.
  10. A Will Gives You Peace-of-Mind and Makes the Lives of your Loved Ones Easier: At the end of the day, our families and our well-being are what matter most to us. Having a well-drafted will in place allows you to rest assured that your assets will distributed in accordance with your intentions and that your children and spouse will be provided for.

 

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