When you’re young, life is about beginnings, not endings. You’re setting out on adventures from relationships and marriage to buying your first home and starting a family.
With so many exciting opportunities rushing toward you, why stop now to think about death? We all understand the temptation, especially as you naturally expect a long life ahead, to delay decisions until ‘next year’.
But as we were reminded so awfully by COVID-19, tragedy can arrive at any time, even for the young.
Here are four powerful reasons to make your will right now:
- It’s so easy, even in the middle of your busy life. Using a virtual service, you can arrange a will online from the comfort of your new home. The best place to start is right here – https://www.dwandco.co.uk/online-will-service/. Even the signing of a will can now be witnessed by video link (which is appealing not only for young people rushing around but also for anyone elderly with mobility issues).
- If you do nothing, you have no control. If you die without a will (‘intestate’), the legal rules of intestacy dictate what happens to your money and property, not you.
- You might wrongly assume your new home will belong to your partner when you pass away. Just because you jointly own a house with someone does not necessarily mean that person will automatically inherit your share of the property when you die. (Equally, depending on the ownership structure, you may not be able to leave your share of the property in your will to someone other than the co-owner.) Check your home ownership status to see if you need to make your wishes clear in your will.
- You must secure your family’s future. If you die tomorrow, you know your partner will take care of your infant children. But what would happen to those children if you and your partner died at the same time? You should appoint a guardian (or normally guardians) to look after your children, in the event of your deaths, until the children reach the age of 18. The appointment of a guardian needs to be made in writing, signed and dated, and is therefore suitable for inclusion in your will. If you don’t appoint a guardian, and your children are under 18 and left without a parent, the courts will appoint guardians. Those guardians, however, might not be the people you would have chosen.
With the latest online technologies, and the support and advice of an experienced and expert legal team, you’ll be amazed how quickly and painlessly you can make a will. The peace of mind is priceless, knowing you’re protecting your loved ones even if tragedy strikes tomorrow. You may be young but why wait?