It might sound strange to have younger adults think about what they want to happen after their deaths. They may be so far from dying, but it’s an important thing to think about. Young people should be more comfortable with the idea of death since it’s a part of life.
Maybe you don't think about it because you're not married. Maybe you’re not making enough money so you don’t feel like you have to think about where it goes, You may not be worried about your life ending anytime soon. Unfortunately, accidents happen and you don't want to be caught unprepared in case they do. Here’s why it’s a good idea to write a will or at least start considering it:
If you are thinking about joining the military when you’re of age, you should really get your affairs in order. Even if you don't have any major assets, your family members might qualify for benefits when you’re gone. Any money you get from the government will have to go somewhere. So it would be to your beneficiaries’ best interest if you left some instructions regarding that.
Are you about to receive a sizeable inheritance or trust fund? You should make sure that you come up with a plan to distribute that money evenly. Otherwise, it could become a complicated, slow process for any surviving family members.
You should make sure to include plans for your pet or pets in your will. If you own any animals such as a cat or dog, you should specify who you want to care for it. Also, leave instructions as to how they’re supposed to do that. You might also want to leave some money behind for the care of that pet. In the sudden event of your death, you’ll want to make sure that your pets have a place to call home. Make sure they are well taken care of even after you’re gone.
If you died and didn't write a will, your estate will be distributed among your family first. This includes any money and possessions in your name. Although they will not be able to obtain them right away. First, they will need to go through a long process which is known as probate. If you had life insurance, your family would not be able to access any of those funds yet. They need to wait until the probate process is complete.
If you want your family to come into their inheritance as soon as possible, look into basic estate planning. This includes filling out important documents. Writing a will should also allow you to hand out your assets to beneficiaries much faster.
A lot of people might spend a lot of time online. You might have an account that you want to be closed down or even deleted when you pass away. Do you wish to scrub the internet of your presence or maybe want your computer destroyed after your death? You should specify this in your will so your surviving relatives can carry out these wishes for you.
Whether you want to give your belongings or money away to charity, you should name this organization in your will. Your assets are your belongings, and you have the right to choose what happens to them.
Reference:
1. “Executor.” Wikipedia, Wikimedia Foundation, 4 Mar. 2019, en.wikipedia.org/wiki/Executor.
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