Younger Americans Are Planning For The Future
A person sits at a desk with a tablet, laptop, and files and draws a graph in a journalOne of the most important documents you will ever need is a will, but more than half of all Americans will pass away without one. Younger people tend to believe that they do not need to worry about a will until they are older, but having these documents in place can help if something unexpected happens, including having your wishes known to medical personnel if you should become incapacitated and unable to voice those decisions yourself. Members of our legal subscription plans get wills, living wills, trusts, and advance directives included with their membership at no additional cost, and more and more younger people are interested in making sure their final wishes are legally enforceable if needed; in fact, in the last year, the percentage of Millennials and Gen Z who have created a will has gone up from 18% to 27%. The consequences from not having a will can be overwhelming for your family. Here's what happens when you die without a will:
You Have No Control Over Your Assets
Your house, vehicles, jewelry, art, furniture, family photos, and other valuables will be divided up by your state's probate court.
You Have No Say In What Happens To Minor Children
If you are expecting or have children, it is critical that you have a legally enforceable will. If you do not have one, where your children live and who takes care of them will be decided by the state.
You Have No Say in What Happens to Your Pets
If you do not have a will that includes who should care for your pets and how they will be cared for, again, a court will decide, and that can include someone appointed by the court, and that could include a shelter.
You Have No Say in What Happens to Your Money
Without a will, the state will decide what happens to any savings you may have. Any charities that you support will probably not be considered.
If you're ready to make your will and have your decisions created into a legally-enforceable document in your state, here are a few tips to get you started:
If you have children, decide who you want to care for them in a worst-case scenario. Who could realistically care for them? Talk with those who you think might be good candidates for taking care of your minor children and make sure that they are willing to do so.
Where would you like your belongings to go? Who inherits your home, your vehicles, and other assets? What about family heirlooms?
Who would be the best choice to care for your pets? What do you want to happen to your remaining money? Parents usually earmark money to care for their children, but those without kids may want to designate a favorite charity, an alma mater, or some other worthy cause.
One thing that many people don't think about in this age of technology is what should happen to your public profiles on social media or even your computer files and hard drives. A will is a way you can designate someone you trust to take care of your digital persona if you are unable to.
Consult with a lawyer. Handwritten or typed wills are generally not legally enforceable, so talking with a lawyer who is familiar with probate laws in your state to go over your plan and your situation is a great choice to make sure that not only are your wishes documented, but that your state will recognize them legally. As a member of our legal subscription plans, you can start creating your will the first day you're a member and have your attorney review everything in a matter of days.
Death isn't a fun topic to think about, but planning ahead for the future can alleviate stress on your family and loved ones at a difficult time. Learn more about all the benefits of membership in our legal subscription plans, or sign up today to get started on your will.
