Being young and single doesn’t mean you don’t need a will. Being young and single should be a big reason why you get a will created. Many young, single people like to live life to the fullest. They go on adventures that they might not get to enjoy at an older age. If they are able to, they travel the world. A will helps to protect your assets should die at a young age.
If you are single, and have no will, all of your assets and property will be handled by the state if you should die. This means that your assets will not go to your siblings, your parents, your grandparents, nieces or nephews, or even friends. Even single people can leave property to others in their will. It’s a smart move in the event that you die at a young age.
Even young, single people might have items they want their friends to have upon their death. Young people can also have debt, especially if they took out loans for school, a car or a home. All of these items should be covered in a will so your property is not awarded to someone you never wanted to have it.
An advantage of having a will created when you are single is that you can simply have it updated as you reach life milestones. These milestones include buying a home, getting married, having a child and much more.
Haven’t created a will yet? An experienced Crystal Lake estate planning attorney can help you draft this important document in an effort to protect your assets.
Source: MarketWatch, “Young and single? You still need a will,” Alessandra Malito, Aug. 04, 2017