If you are an adult, it is a good idea to have a will regardless of if you don't have a large amount of assets or children. A will is a way to convey your wishes after you pass away. Here are a few things that you need to know about writing and creating a will as a young adult.
#1 A Will Can Cover More Than Just Your Assets
There are a variety of different types of information that can be covered with a will and estate plan. An estate plan encompasses both a will and any other legal documents required by your state to convey your last wishes.
One of the most important things that you will cover is what you want done with your body after you pass away and how you want your life celebrated or remembered. This is where you can let your relatives know that you want to be cremated or buried, and where you want your ashes or your body stored. You can also let your relatives know how you would like to be remembered, and add in any special requests.
A will is also a place where you can leave messages to your loved ones. It is where you can make sure that your loved ones knew that you cared about them and that you valued them; it is your last chance to speak with your relatives.
A will is also where you can divide your personal belongings, especially if there are particular relatives or friends that you would want to get specific personal items. If you have acquired any assets at this point of your life, you can also include who should get what as well.
Finally, in the digital age, everyone leaves behind digital footprints as well. Your will is where you can let your family know what you would like to happen to your digital accounts and life, and let them know how to access your accounts to carry out your wishes.
#2 Always Involve A Lawyer
No matter how simple you feel that your will is, it is always a good idea to include a lawyer in the process, like Seiler & Parker PC. Estate planning laws vary from state to state, and a good lawyer can make sure that the document that you create and leave behind follows the letters of the law so that there is no confusion after you are gone or additional legal issues.
#3 Think Carefully About Executors
When you write a will, you will need to decide who is going to carry out your will. This person is known as an executor; you need to pick someone who is up to the task of seeing that your will is carried out and fulfilled as you would want it. It is also a good idea to set up a backup executor in case something happens to your first choice.
#4 Make The Location Known
Finally, a will does no good if no one knows that it exists. Make sure that a few family and friends know that you have a will and where it is stored. You may want to store it in multiple places as well to ensure that it is found.
Even if death is far from your mind as a young adult, creating a will now allows you to dedicate what happens to your belongings and to you in the event that you should pass away. Once you have created a will, try to update it every few years to keep it current and reflect any changes in your life.Share