Is it too early to make a will? Spoiler: It’s not. Here’s when you should start thinking about it (and it’s not what you thought).
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When is the best time to make a will? – deathbed – retirement – after major life changes – early in life |
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The answer: Early in Life. |
Having a will at 18 might not seem necessary, but there are several important reasons why young adults should consider creating one:
1. Control Over Your Assets
Even at 18, you may have assets like a savings account, a vehicle, or personal belongings of sentimental or financial value. A will ensures these are distributed according to your wishes, rather than the government making decisions based on default laws.
2. Digital Assets and Online Accounts
Young adults often have significant digital assets—such as social media accounts, digital files, or even cryptocurrency. A will can dictate who will manage or inherit these digital properties.
3. Medical Directives
In a will, you can also express your wishes regarding medical treatment or end-of-life care through a living will or healthcare directive, should you become incapacitated. This takes the burden off your family during tough times.
4. Avoid Family Disputes
A will reduces the chance of family disputes over your assets, guardianship (if you’re responsible for minors), or even final arrangements, ensuring your family knows exactly what your wishes are.
5. It’s Easier to Update Later
Establishing a will early on allows you to become familiar with the process. As you grow older and acquire more assets or responsibilities, you can easily update it to reflect new life changes.
While many people think of wills as something for later in life, creating one at 18 is a responsible step in ensuring that your wishes, no matter how simple, are respected and that your loved ones are spared difficult decisions.