Why making a Will is important for the younger generation!
A will is often not top priority for young people and is often considered by those in the Springtime of life as not something they need to worry about until they have grey hair and are enjoying retirement. However, we cannot predict what may be in store and putting a will in place can give you great peace of mind.
What is your situation? Yet to accrue Mark Zuckerberg levels of wealth? No one particularly financially dependent upon you? Do you have a partner but are not married or in a civil partnership? Half-siblings who are in different stages of life?
The Intestacy Rules that apply to those who have not made a will may not cater for your wishes e.g. your estate may be split between your parents or pass to family members from whom you are estranged? Who will be the guardian of your young children? Do you have a partner who is financially dependent on you? Look out for a vulnerable adult or care for a disabled child? Any of these situations means it is imperative to make a will.
Indeed, although you may have not yet have accumulated vast wealth, your digital assets and accounts may have some value and making a will is an excellent time to consider how these should be dealt with. I have considered this point in more detail here: https://wills.rrlcornwall.co.uk/promoted-to-front/what-happens-to-your-digital-assets-when-you-die/
In the future, your circumstances may change, you may get married, have/adopt children and have pets. If your personal or financial circumstances should change it would be a good time to review your will, even if to confirm that your current wishes are covered!
Wills are often a relatively inexpensive process and will provide you with an invaluable document ensuring that your specific wishes will be carried out on your death, making it clearer and easier for your nearest and dearest.
If you are uncertain whether or not a will is necessary for you and your circumstances, please get in touch with one of our team at RRL Wills.