Wills can seem like something that should only concern the elderly or infirm, but anyone who has assets should make provision for what happens to them after their death. This means anyone, regardless of their age, can benefit from a will.

Statistics

Surveys suggest that only around 9% of those under 25 have a will, even though 42% expressed a vague intent to create one in future. This increased to a still low 14% and 43% for those in the 25-35 age bracket. The general attitude seems to be that whilst people are young and in good health, the need is not urgent, even if wills are important.

Why write a will?

Writing a will is not just for someone with millions of pounds and multiple homes. It is also about the ornaments, jewellery, family photos, signed memorabilia, and all the other knick-knacks, and which child, sibling, niece, nephew, or friend you want to receive them. Otherwise, all your belongings could go to your legal next of kin, and everyone else important to you could be excluded from receiving even the smallest trinkets.

Legal implications

Your will is a legal document. Without a will, it is down to courts and the law to decide how your estate will be distributed, which could mean estranged relatives inheriting whilst the partner you lived with but never married receives nothing. Considering its legal importance, it can be highly beneficial to consult a solicitor when drafting a will, although this is not legally required.

This doesn’t just apply to wills. If illness or injury leaves you unable to make your own legal decisions, you may need to give someone UK power of attorney. Available online through companies such as https://powerofattorneyonline.co.uk, this enables someone you trust to manage your legal affairs and estate whilst you are incapacitated.

You never know when an accident or illness may strike and throw your plans for the future into disarray. By planning early, you can ensure you retain some control over your estate, even if you die young.