Most people I meet who don’t have Wills always say to me that they know it is something they need to do and they keep meaning to get around to it. Below is a list of reasons as to why you should have a Will now, no matter what age you are:-
1. Unmarried Couples
If you are unmarried and if you die without a Will then your girlfriend or boyfriend is not legally entitled to receive any of your own assets. You need to do a Will specifically providing for your other half.
2. Young Families
If you have young children then it is really important that you have a Will stating who looks after them if you die and who looks after the money for them.
3. Children from Previous Relationships
A Will can ensure that your partner is provided for if something happens to you and still guarantee that some or all of your assets will definitely pass to your children including children from previous relationships.
4. Choosing Executors
It is important that you choose people whom you know and trust will be able to cope with dealing with the paperwork, liaising with solicitors and ensuring everything is distributed properly. Your parents might be too old or unable to cope with the responsibility.
5. Specific Beneficiaries
If you are unmarried and you don’t have a Will then everything will pass to your parents. If you want to leave some money or specific items to friends, family members and/or charities then you must do so by a Will.
There are so many reasons why you should do a Will and these are just a few, which hopefully demonstrate why you should think about having a Will in place as soon as you reach adulthood!