Young Adult? Why You Need a Will Now: 5 Essential Reasons

Did you know that only 34% of adults ages 18-55 have a will?

That shocking statistic means nearly two-thirds of young adults are completely unprepared for the unexpected.

If you're thinking, "I don't need a will yet - I'm too young," or "I don't own enough assets to bother," this post is specifically for you.

1. You Have More Assets Than You Realize

Many young adults assume they don't own enough to justify creating a will.

But take a moment to consider what you actually own: your car, bank accounts, retirement funds, digital assets, personal belongings with sentimental value, and possibly real estate.

Then there's what you don't see - future inheritances, life insurance policies, or investment accounts.

Digital assets deserve special mention.

What happens to your online life - social media accounts, digital photos, cryptocurrency, or monetized content - when you're gone?

Without proper documentation, your family may struggle to access or manage these assets.

2. You Want to Choose Who Gets What

Without a will, state laws (known as "intestacy laws") decide who receives your assets, and their decisions might not align with your wishes.

For example, unmarried partners typically receive nothing under these laws, regardless of how long you've been together.

Close friends, favorite charities, or specific family members you'd want to support could be overlooked.

Creating a will ensures your belongings go exactly where you want them to go.

It's your chance to make those decisions rather than leaving them to impersonal state laws.

3. You Need to Protect Your Children

If you have children, a will becomes absolutely essential.

Your will designates guardians for minor children in the event something happens to you and your partner.

Without these instructions, courts decide who raises your children - potentially choosing someone you wouldn't have selected.

A will also helps establish financial provisions for your children, ensuring they're supported according to your wishes.

This might include setting up trusts to manage their inheritance until they reach an appropriate age.

4. You Can Make Things Easier for Your Family

Dealing with the loss of a loved one is already emotionally devastating.

Without a will, your family faces additional stress navigating complex legal processes and potential conflicts over your assets.

A proper will significantly reduces administrative burdens during an already difficult time.

It provides clear instructions that minimize confusion, prevent family disagreements, and streamline the legal process.

This final act of consideration can spare your loved ones considerable heartache.

5. Life Changes Quickly - Better to Be Prepared

Rapid transitions, including new relationships, career advancements, property purchases, and the formation of growing families, mark young adulthood.

As your life evolves, so should your estate plan.

Starting early allows you to establish a foundation that you can update as circumstances change.

Remember, having a will isn't about expecting the worst - it's about being prepared for any possibility.

Tomorrow isn't guaranteed for anyone, regardless of age.

Creating a will demonstrates foresight and responsibility, giving you peace of mind that your wishes will be respected.

Getting Started Is Easier Than You Think

Creating your first will doesn't have to be complicated or expensive.

While consulting with a professional is always recommended for personalized advice, there are several approaches to get started:

• Work with an estate planning attorney who specializes in helping young families
• Use online legal services that offer basic will-creation tools
• Consider a "will starter kit" that walks you through essential considerations

The most crucial step is simply beginning the process.

Once completed, remember to review your will regularly, especially after major life events like marriage, having children, buying property, or experiencing significant changes in financial status.

Don't be part of that 66% without a plan.

Taking this simple step now provides protection and peace of mind for whatever the future may hold.

Need more guidance on estate planning? Download your copy of the FREE Will Starter Kit today.

If you need daily prompts, check out the 30-Day DIY Will Blueprint.

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