Am I Too Young for a Will?

May 15, 2023
West Chester Estate Lawyers at Eckell Sparks Help Young Adults With Their Estate Plan.

Many people believe that planning your estate and writing a will should be done during the latter part of life. However, that is simply untrue. Having your affairs in order earlier rather than later in life is not only ideal, but there are many benefits as well.

Many studies reveal that almost 90 percent of adults under the age of 35 years have not written a will. This could be for various reasons. Young people generally think that have a lifetime ahead of them, or they believe they do not have any significant assets. However, life is unpredictable, so it is important to have your affairs in order when you are young.

Benefits of Having a Will

In most states, you can draft a will as soon as you turn 18 years of age and become a legal adult, and you must be mentally competent. The following are a few reasons why you should have your will completed while you are young:

  • Your family: Dying without a will in place leaves your affairs to your family, which can lead to a long probate process. During the probate process, your family cannot access any of your assets, bank accounts, or possessions until the process has been completed.
  • Your wishes are met: If you die without a will, your assets are passed down to your heirs based on your state’s intestate succession laws.
  • Secures medical decisions: Your specific wishes of how you want medical decisions to be made or how you want your funeral done can be detailed in your will. Whether you want to be buried, where you want to be buried, or if want to be cremated can all be instructed in your will.
  • You have inheritances: If you have received an inheritance or family heirloom, your will can make sure it goes to the right person. Without a will, the probate process can be stressful among family members, as they may dispute who should inherit the assets.
  • You have a child or spouse: Whenever you experience a major life event, particularly if you get married or have a child, you want to make sure they are set up for the future should you pass away.
  • You have a pet: Having a will allows you to decide who takes care of your pets after you are gone. Specific instructions can be left for who should take care of your pet and how your assets should be used for their care.
  • You have digital assets: Many young people have social media accounts, and many social media networks have “legacy contacts” that names a person to handle your account should you pass away.
  • You can create generational wealth: As opposed to leaving family members millions of dollars after someone passes, many families create generational wealth by leaving a low sum of money to their loved ones.

West Chester Estate Lawyers at Eckell Sparks Help Young Adults With Their Estate Plan

If you need to create a will, our West Chester estate lawyers at Eckell, Sparks, Levy, Auerbach, Monte, Sloane, Matthews & Auslander, P.C. can help. Call us at 610-565-3701 or fill out our online form for an initial consultation. Located in Media and West Chester, Pennsylvania, we serve clients in Delaware County, Chester County, and Montgomery County.