Top Reasons Why Young Adults Should Have A Will

Top Reasons Why Young Adults Should Have a Will

If you're like most young adults, you probably think that making a will is something you do when you're older. It's probably not something you even want to think about in your 20s or 30s. However, regardless of your age, having a will prepared can help to ensure that your final wishes are carried out should you pass away unexpectedly. The truth is, there are many reasons why young adults should consider having a will prepared now rather than later. Here are four of those reasons.

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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