Will or an estate plan is one of the necessary tools to protect, manage and distribute your assets if you get unwell or pass away. Moreover, it can ensure that your minor children are looked after in the event of any emergency. These ideas are only restricted to elderly people and thus, many think Will or Trust are meant for only parents or seniors. It might sound strange to a young person if someone reminds him/her to create an estate plan. Well, don’t get startled, because Will can be created if you are an adult, i.e over 18 years old. Moreover, if you are married or living with a partner in a committed relationship, then it is fair to say that it is overdue.
If you are young and have limited assets (bank balance, insurance, FD’s etc), you would still want to ensure that you protect these assets for the future by creating a Will.
Here are seven reasons why young people should also have a Will –