Millennials: Am I too young to write Will? 

Millennials: Am I too young to write Will? 

Will, do you think you are too young to write? Then, find out why all Millennials should be preparing for the future. 

You think that ‘Will-writing and ‘millennials’ do not belong in the same sentence. But, just because you may not have many assets to your name, and you are not going grey around the edges does not mean you do not have something or someone to protect. 

A Will is essential for every Australian adult, regardless of age or how much you own. As soon as you turn 18, it would help if you considered putting a plan in place and writing your Will. Taking care of the what-if now will spare your loved ones a great deal of stress, uncertainty, cost, and even conflict down the road. 

To understand this, you need to understand the purpose of your Will. This article discusses the benefits of having a Will and why every millennial should have one. 

Am i too young to write a Will?
  1. Distributing your estate 

You underestimate the value of your estate. If you own a car, a bank account, or even just superannuation, you should think about how your loved ones might access these things if you went away. 

If you pass away without a will (often referred to as “dying intestate”), the State will decide how to divide your estate. This can be very troublesome because the person with a “legal claim” to your inheritance could not be the one you would have wanted to receive. 

Even when you do not have a complex estate, administering it can be costly for your loved ones on top of the stress, hassle, and potential disagreement. 

  1. Protecting your pets 

Many of us go to outrageous measures to keep our pets safe and make sure they are content while we are around, but few of us have thought through what would happen to them if we were to die away without warning. The only way to guarantee that your furry child goes to a loving home and that their caregiver has the means to care for them adequately is to include a provision in your Will. 

  1.  Assigning guardians for your children 

If you have children, the court will decide who will be your child’s guardian if your wishes are not expressed in your Will. Regardless of whether you would have picked them as guardians personally, anyone can apply to the courts to be appointed your child’s guardian if the need arises. 

Even while it may seem unsettling at first, appointing a guardian for your child could be the most liberating and empowering thing you do as a parent because you will know that no matter what happens to you, your child is in the best hands. 

  1. Having a say on your digital legacy 

Let us face it: Our most valuable possessions are often those kept online, including email and social media accounts, digital music, and images. You can specify who among your family or friends should have access to these items and what you want to happen to them after your passing by writing a will. 

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