You Have Young Kids
Even if
you’re young and healthy, it’s possible that you could fall victim to a fatal
accident or illness unexpectedly. Your will ensures your kids are taken care of
should an unfortunate event like this happen. The unfortunate fact is, young
parents, leave young kids behind. It’s just the nature of being a young parent.
While it may be unlikely that you die in your 20s or 30s, it's still better to
have a will that creates provisions for your kids should that happen.
You’re In The Military
Being in
the military can be a risky profession. If you're in military service, having a
will can make it easier for your family to receive your benefits should you die
in the line of duty? On a related note, some military service people are
deployed before they have gotten married or have had children. If you fall in
this category, this means that there might be someone back home who would be
eligible for your benefits: These are typically parents or other guardians.
However, it could even mean that you have pets that you want to be looked
after. Having a will ensures that all your loved ones, including your pets, are
cared for should you pass away in the service of your country.
You Have Property or Assets
In the age of the Internet, it's not unusual for young adults to amass a significant amount of physical and monetary assets as a result of their business dealings online. Popular internet influencers and the heads of start-up companies often become millionaires before they leave their 20s. If you’ve accomplished a lot and amassed a great deal of wealth, despite your age, having a will is a good idea. Even if you received money from a trust fund or inheritance, be sure that you have a plan for it in your will.
Property,
especially, is a good reason to have a will regardless of your age. It’s often
a person’s first big investment and is likely something you don’t want to leave
up to chance if something happens to you unexpectedly. So if you own your home
or even other rental or vacation properties, be sure to include this in your estate
planning.
You’re Unmarried
When a
married person passes away, their property and other assets often go to their
spouse by default. However, if you are not married, and especially if you also
don’t have children, it’s not a guarantee that your assets will be distributed
the way you want them to, and it may even be ambiguous as to who your next of
kin is. To prevent these types of complications, you must have a
will that clearly dictates where you want your possessions to go. Don’t forget
that this also includes any pets you may have. Be sure to indicate who your
pet’s caretaker should be so that they don’t end up in a shelter.
It Makes Life Simpler
Having a
will makes things simpler. Without a will, your family could be faced with red-tape if you pass away at a young age. They could end up in court facing legal
battles that could have been avoided with a written will. If you have any kind
of assets or have any particular wishes for how you want them to be allocated,
having a will just make things easier one everyone. Even though most of us
don’t want to think about the worst-case scenario, it’s important to be
prepared just in case to potentially save our loved ones from a difficult
situation.
Final Thoughts
As this
post has pointed out, there are many reasons why everyone needs to have a will,
including young adults. In addition to providing assurance for your loved ones,
it also ensures that your estate is divided up according to your wishes. To
start this process, look for legal professionals in your area, such as those at
Wilson Law. Getting these things in order now
can save your family stress in case of an emergency later on down the road.
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