Why Young People Should Make A Will

It’s easy to think you only need to make a Will if you’re a bit older – however, there are plenty of reasons why young people should make a Will. After all, many of the benefits of writing a Will are the same, regardless of age.

Why Young People Should Make A Will

We’ve listed our top reasons why young people should make a Will, below.

To Protect Any Children

If you have children, make sure you nominate legal guardians in your Will to ensure your children are well looked after if you and your partner pass away. When both parents die, parental responsibility for the children until they’re 18 passes to nominated legal guardians if there is a Will rather than being decided by a Court if there is no Will.

To State Who Inherits

By making a Will, you can state who inherits which asset from your estate – giving you complete peace of mind you can take care of loved ones after you’ve passed away. Without a Will, your estate will be distributed according to the rules of intestacy.

To State Who Oversees Distribution Of Your Estate

In your Will, you can choose your executors. Executors are responsible for ensuring your wishes stated in your Will are carried out and that your loved ones receive the assets you want them to.

To Protect Property

You can control how your property is distributed by making a Will. If you own property as tenants in common, you can still ensure your share passes to your co-owner when you die – without a Will, your share will pass to your closest relatives which won’t necessarily be your co-owner. If you own as joint tenants, your share will automatically pass to your co-owner.

To Reduce Tax Liabilities

By planning ahead in your Will, you can ensure your estate distribution is as tax efficient as possible.

Helping You With Your Will

If you’d like to make a Will or update an existing Will, our specialist solicitors are here to help. Together, we will ensure that you consider every aspect of your life and situation to maximise the extent you can look after loved ones when you die.

With our support and guidance, you will gain total peace of mind from having a Will that expresses your wishes fully, is legally watertight, and is planned in the most tax-efficient way possible for loved ones.

To speak to us about your Will, you can contact us at our Chorlton office on 0161 860 7123 or email chorlton@hlfberry.com or at our Failsworth office on 0161 681 4005 or email failsworth@hlfberry.com and we will be happy to help.