Perhaps you’re still young, living life to the fullest. The last thing on your mind might be whether you need a will. That’s to worry about later in life, right?
However, there are a number of reasons why you need a will at any adult age. It not only protects your belongings, but it also dictates what happens to any children you may have.
Here are some compelling reasons for when to make a will, even if you don’t think it applies to you yet.
You Decide Who Gets What
Chances are you have some assets or investments that are of value. But what happens to them if you pass on without a will?
Well, those you love potentially get nothing. But what might be even worse is that your belongings might end up in the hands of those who you definitely don’t want to get a piece of your estate.
That could include an ex-spouse that you’re not on good terms with anymore following a divorce, and have no children or belongings with. By naming people specifically in a will, you can disinherit people who might otherwise be awarded some of your goods after you’re gone.
Speeding Up The Process
If you die without a will, the division of your assets could end up stalled in the probate process. This is essentially the court deciding who gets what, which can take some time to sort out.
If you’ve already outlined exactly who should get your assets, then you can speed this process along so your loved ones get what they’re entitled to quicker.
Arranging Care For Your Children
Even if you’re young, you still might have a special little one in your life (son or daughter.) You’ll obviously want the best for them when you’re not around anymore to hold their hand.
In a will, you can specify someone to take over care of your children if you die. This is a conversation you should have with your chosen caregiver prior to making the will.
By naming a guardian to take over responsibilities of caring for and supporting a child, you also avoid your child ending up with someone that doesn’t have their best interests at heart.
Because Life is Unpredictable
Say you’re 25 years old and in good health, and life is good. You’re probably not thinking about anything bad happening to you that could end your life.
However, tomorrow holds no guarantee: you could end up in a freak car accident, or you could suffer an illness that can claim your life in a very short period of time. Obviously, either scenario doesn’t allow for you to put together your last wishes in a legal document.
Having a will in place as well as an executor to handle the details are both important steps to ensure your wishes are carried out.
Find Out Why You Need a Will
It’s not always the rosiest topic, but preparing a will is key to ensuring the right people get the right assets and any offspring are taken care of accordingly.
To learn more about why you need a will, contact us today.