Why do you need a Will?
Before we get into when you need to get a will, it’s important to go through why you need one.
Writing a Will is a huge life benefit, and here’s why:
An expansion of all these reasons can actually be found on one of Safewill’s past blog post, 10 Reasons Why You Need a Will.
You may still think however, that maybe at your age, you don’t need to write a will. You may think that you don’t need a Will for the following reasons:
It’s important to remember that you don’t need to have a lot of assets to create a Will. If you have a bank account, superannuation, or a mortgage to pay, those are the assets that you will leave behind when you pass away.
It’s also important to remember that having a Will is a legal document that will make it clear on what your wishes are and avoid any further costs and complications. It’s not something that you can just write yourself, nor is it something you can procrastinate. Wills are a way to help you protect everything that matters most to you once you pass away.
Feel free to read more on the myths of writing a Will here.
When do you need a will?
Now that we had gone through why you need a Will, it’s time that we go through when you need a Will.
The clear answer is right away. Here’s why.
If you were to pass away with no Will, it means that you will have no say in how your assets are divided, the guardianship of your children, pets, and the allocation of prized possessions.
Without a Will, your estate will be decided by the courts depending on your State and Territory. Your next of kin would be the first in line for your inheritance. The courts are normally the ones who consider the spouse to be the primary recipient, followed by any children, immediate family, and relatives.
Still, this is not an easy process for them. Disputes can easily arise, and families can struggle to decide who gets what.
That’s why, to prevent these scenarios, simply create a legally binding will before you pass away. By doing this, you have more control over who gets a share of your estate and prevent any other disputes.
Can I ever be too young to write a Will?
We already know that it’s best to write a Will right away. However, some young people may be concerned that they are too young to write a Will.
However, just like what was mentioned above, you don’t need to have big assets to have a Will. No matter what age you are, there will still be something or someone you want to protect. A will is important for every Australian adult.
If you are over the age of 18, then a Will is something you should already be thinking about. Taking care of everything now will save so much stress, cost, and conflict later on.
That’s why, the answer to this question is that as long as you’re over the age of 18, you’re never too young to start thinking about writing a Will.
How do I even get started?
First, you can check out Safewill’s past blog post on everything you need to know about writing a Will. It may answer more of the questions you may have about writing a Will.
If writing a Will sounds stressful and a bit of a hassle, it doesn’t have to be. Safewill has made will-writing an easy and affordable process, where you can write your will in less than 20 minutes, and for an affordable price! You can get started here, and we will guide you every step of the way!