Patch Adams puts an emphasis on the most important part of dying when actor Robin Williams said, “Death is not the enemy, gentlemen. If we’re going to fight a disease, let’s fight one of the most terrible diseases of all: indifference.”
Death is inevitable; thus, individuals can do nothing about it.
It’s an assumption that has led 60% of Americans to lack a will or any form of estate planning.
As grim as this reality may be, we can never know when we’ll take our last breath. However, it’s inaccurate to believe there’s nothing we can do to change the circumstances of what occurs after we pass on.
Why Wills Are Necessary at Any Age
After you become an adult, a will can play a large role in what occurs after you die—and this goes further than simply organizing and distributing assets.
The Huffington Post recommends drafting a will after the following occasions:
- Marriage
- Having children
- Starting a business
- Purchasing a home
However, these life triggers aren’t necessary to reap the benefits of a will.
“Many fail to realize the impact a will can have on loved ones,” says an estate planning lawyer in New Jersey. “It goes far beyond distributing assets.”
Control of Assets
Perhaps the most cited reason for drafting a will, regardless of age, is that it gives you direct control over your assets. You won’t have to worry about where that expensive bookcase will go or who will get your house.
Minorities
For parents, of course, the most important responsibility of a will is to safeguard children, as parents can have a direct say in where their little ones go.
These are certainly the topmost reasons people draft wills; however, there are many more benefits that have less to do with age and more to do with the people who will be left behind.
Time
Every estate must go through a probate process. Wills greatly expedite this procedure. If everything goes smoothly, probate may still take up to a year. Without a will and with complications, it can take several.
Contestations
Within the court, wills are very rarely contested. That means what you decide generally sticks, as proving that a will is invalid is difficult.
Family Disputes
If you have a large family, chances are disputes have caused rifts before. Wills are no exception, but they also provide the opportunity to show equal adoration towards your kin. They can be peace enforcers or the fuse for a feud. Without a will, however, fights are more likely to occur over how assets should be handled.
Age Is Irrelevant
It doesn’t matter if you’re 19 or 103; wills affect not only you, but the people you leave, too. The process behind distributing your estate and wealth is long and tedious; by drafting a will, you make the entire process easier, allowing your loved ones to grieve properly without the stress of rivalry or estates hanging over them.