Why Young People Need Wills Too

Generally speaking, people start considering estate planning later in life. While it’s never too late to write a will, getting started sooner rather than later can have significant benefits.

Here are a few reasons that young people should start planning for the future now.

Protect Your Assets

You may not have your dream home, two cars, a summer home, or a diverse investment portfolio but that doesn’t mean that you don’t have assets. What about your TFSA? Your rainy day fund? The money you set aside for your next vacation? Your bike? If you should die, any money that you leave behind has to go to someone so you might as well ensure that it’s distributed in a way that you see fit.

Regardless of how much, or how little, you have, it’s important to account for it in your will. 

Account For Major Life Events

Are you recently married? A new parent? Planning on buying a home? These are all major life events that need to be taken into consideration when planning for the future. For parents, a critical aspect of estate planning is ensuring that you have appointed a guardian for your children in the event that you pass away. Knowing that the people you love the most will be cared for no matter what can provide tremendous peace of mind.

For married and common law couples, it’s important to know where you stand in terms of distribution of assets and legal rights in the event of a death or even incapacity. Instead of leaving it to chance, having the details squared away in a will can prevent significant stress and heartache should the unimaginable happen.

Take Care Of What Matters Most

It can be easy to fall into the trap of thinking that once you’re gone, there will be nothing to worry about. Unfortunately, that isn’t the reality for those you leave behind. A comprehensive estate plan is one of the greatest gifts that you can give your loved ones.

Whether you need legal advice concerning planning for your future or want to get started on the process, getting help from an experienced wills and estates lawyer is key. They’ll be able to take the time to understand your situation and guide you towards the decisions that make the most sense for you.

Planning for the future can be hard but it’s important. The sooner you get started, the easier it will be.

No Comments

Leave a comment
Comment Information

Talk To Us Today

Our team of lawyers is here to help. Get the answers and support that you need.

Schedule Your Free Consultation

Privacy Policy | Business Development Solutions by FindLaw, part of Thomson Reuters.