As surprising as the headline may seem, there are plenty of reasons why making a will in your 20’s is a good idea. Don’t be under the impression that you don’t need one. It’s as important as saving up for a new car.Here are just a couple of reasons why you need to:
Firstly, it means that you can make sure that all your money goes to the people you want it to go to. If you pass on without making a will the law states that your nearest living relative inherits the money. And if you’re in your 20’s that will most likely be your parents. If you wish to pass your money onto anyone other than them, such as your siblings, friends, girlfriend or boyfriend you can do so. You can’t always guarantee that your parents will hand your money out – the way you want!
Also, by creating a will you can make sure you allocate items and belongings of your choice to certain people. Or by the law, they will pass onto your parents. So if you have jewellery, musical instruments or a car you can specify who they should be given to. Pets are also a good reason to make a will! If your parents have a problem with your pet, you can make sure it goes to someone you know will treat it right.
There’s more! If you don’t want your parents to be the one that collect your belongings and distribute them, it’s a good idea to create a will and name an executor. That way, your chosen individual can be the one to collect your items, keeping anything that is completely private to you, private.
Moreover, if you wish for your funeral to be a certain way, for example via cremation, you can set these out in your will as well as set aside money for these procedures to take place. Furthermore, you can add your wishes regarding finer details such as what type of music you want played.
But one of the biggest advantages is that you no longer have to worry about making a will. Once you’ve made it, any new found wealth or possessions will automatically be handed out in the way you have specified. So then all you’ll have to do is update your will every couple of years to make small amends. It gives you the advantage of knowing that if anything happens to you, your family and people you love are certainly going to give what you wanted them to have.
If you wish to create a will or are interested in finding out more, don’t hesitate to contact our team on: 0116 2999 199 or email us on: email@example.com