Wills – Are They For The Under 35s?
Yes! Wills are definitely for those under the age of 35!
A lot of people think that Wills are for older individuals or for when life becomes more complicated with kids or properties. In reality, Wills are for all adults, regardless of age.
With a Will in place, you get to decide what happens to your assets, who handles your estate and distributes your assets to loved ones, and just how you support your loved ones should you die young. It gives you control and peace of mind that your wishes will be respected should the unexpected happen.
Reasons To Have A Will When You’re Under 35
If you die and don’t have a valid Will that expresses your wishes for your assets, the laws of intestacy decide who inherits. This follows a strict process, and the outcomes aren’t always what you’d choose for your loved ones.
Cohabiting Partners
If you live with your partner but are not married or in a civil partnership, your partner will not automatically inherit your estate without a Will. This is true no matter how long you have lived together as cohabiting partners are not recognised when it comes to intestacy laws.
Without a Will, your partner could inherit nothing, and your estate might pass to a family member you would not have chosen. This could cause distress for your partner and increase the risk of disputes arising in the future.
Children
If you have children under the age of 16, you can name in your Will the person you’d like to care for them if you die. Without a Will, there is uncertainty over your children’s futures, delays while the authorities decide who should be their guardians, and extra emotional stress and upset for your family.
Home
How you own your home will determine what happens to this asset if you die without putting a Will in place. If your home is owned as joint tenants then your share will automatically pass to the other owner, but if it’s owned as tenants in common then your share passes according to the rules of intestacy.
Digital Assets
Digital assets include social media, creative rights, memberships, photos and online banking details. By having a Will, your executor will find it much easier to access your online accounts and photos, reducing the risk of any items being lost.
What’s Important To Include In A Will For The Under 35s?
The most important aspect of a Will for those under the age of 35 is that it covers your current life situation and provides protection for the future.
As a guide, your Will should:
- Protect your loved ones
- Work well for your particular assets
- Be easy to update in the future
Helping You With Your Will
If you’re under 35, it’s important to protect loved ones and gain peace of mind by having a Will that expresses your wishes for your assets when you’re no longer around.
Wills are important for everyone, young and old alike, as they give you control should the unexpected happen.
Our specialist solicitors are here to help you write a Will that’s right for you and your current life situation. Together, we’ll make sure you and your loved ones have certainty and protection at what will be an emotionally difficult time, and that you’re able to care for loved ones long into the future.
