Why You Should Have a Will Made While You're a Young Adult

Posted on: 28 February 2022

When you think about someone needing to create a will, you might think about this being something important for an older person to do. However, even young adults can benefit from creating a will. If you simply don't understand the importance of creating a will at this stage in your life, consider these reasons why it might, in fact, be a good thing for you to do.

You Never Know When Something Could Happen

First of all, you should never assume that you will live to an old age. Of course, this is probably what you hope will happen. However, tragedies do occur. Young adults get in car accidents or become seriously ill all the time. Naturally, this probably is not something that you want to think about a lot, which is clearly understandable. This does not mean that you should not prepare for the possibility of something happening, though.

Costs Shouldn't Be Too High

As a young adult, you might be on a tight budget. Therefore, you might not think that you have the money to do something like hiring a lawyer to help you with making a will, at least not right now. However, if you don't have a lot of assets, then making your will should be fairly simple for a competent lawyer. Therefore, they probably will not charge you very much to do it at all. There is also the option to use an online template to create your own will for free. However, you will probably find that hiring a lawyer instead is worth it, particularly if you can find one who will charge you a reasonable fee to create your will.

You Make Sure Your Family is Covered

As a young adult, you might have a new spouse, and you might have small children. If this is true, it's particularly important for you to be sure that your family members are covered if something ever happens to you. Creating a will can help you ensure that your small children and spouse have access to the assets and resources that they need.

You Can Update Your Will Later

Just because you create your will now does not mean that you don't have the option to update it later. If you amass more wealth throughout your working years, for example, you can always update your will later on to reflect this. You can change your beneficiary later on by amending your will, too.

For more information on wills, contact a professional near you.


Selling my house to the kids

I am getting older and the family house is a bit too much for me these days. My daughter has offered to buy the family house from me and will let me continue to live in the granny flat. I want to make sure it's all legal and doesn't impact on my arrangements in my will. I know that there are a lot of older people in the same position as me: looking to keep the house in the family, seeking extra cash, and trying to avoid legal issues later. This blog has the tips on how to make sure the arrangement is legal and suits everyone.