Many people have a false belief that only two groups of people need a will: the elderly and the rich.
In reality, however, anyone could benefit from a will. In fact, the earlier you write a will, the more beneficial it will likely be.
Increasing awareness of a will’s importance
CNBC mentions that 67 percent of Americans do not have an estate plan. This has changed somewhat in recent years, with many people between the ages of 18 and 34 realizing the importance of an estate plan in the wake of numerous global-scale events.
However, it is still just a slim margin of people who actually have a will in place. Generally speaking, anyone over the age of 18 should consider the benefits of writing a will, if not creating an entire estate plan.
Legal adults should consider a will
Wills can benefit anyone considered by law as a legal adult. It will allow you to decide who gets what out of your assets, even if you do not have many assets to divide. Having a will allows you to avoid the issue of your assets remaining undistributed and falling into the hands of the court, which would have to make decisions based on the laws of Intestacy on who gets what without your input.
It is a good way to achieve peace of mind in life, as well as organizing what you own and ensuring that you have all of your assets properly documented.
In short, it is never too early to have a will. Once you turn 18, you should potentially consider creating one.