Wills are vital upon a person's death. While a person may not want to think about it, it is paramount to plan ahead. Unfortunately, a report from Fox Business shows that over half of adults in the United States lack a will.
Many people wait until they are much older to write a will, and most people do not even think about it until they have retired. However, a will is vital well before that, especially if you are married or have children. Honestly, people as young as 18 would benefit from having a will in place.
Reasons to get a will even if you are young
Most people in their 20s and 30s avoid getting a will because they may think they do not have a lot to pass down. If a person does not have a wife or children, he or she may assume everything will go to parents, siblings or friends. However, a will is much more than that. A will also states what you want done to your body after passing. For instance, if a person wants to undergo cremation, then it would be helpful to state that. A will also outlines what you want done under various medical circumstances. In the event a person is brain-dead, a will would state whether to keep the person on life support or pull the plug.
Reasons to always update a will
People change throughout their lives. Many go through divorces, and they may have more children than they first thought. After one of these significant life changes, a person should always update her or his will. You do not want to assume a lawyer is going to know you want all your assets transferred to your second spouse and not the first. You probably do not need a will if you are under 18 years of age. Any older than that and a will is at least worth considering.