Is the younger generation leaving it too late to plan for lack of capacity or even after life decisions?
Fewer younger people are considering writing a will or preparing for life after death. Young people are not proactively thinking about after life decisions and also unaware of what would happen to their belongings in a situation such as lack of capacity.
22 June 2022
Your will is one of the most important documents you'll ever create, it's recommended to start thinking about and getting it in order as soon as possible. Research shows that most young people are uninterested in writing a will for reasons such as, ‘They have nothing to leave’, ‘It’s too much to organise ’ the most prominent, ‘It’s too expensive’.
What if we we’re to tell you that it’s easy to get started, that you can update your will as often as you like as you begin to obtain assets and that it’s really not as expensive as you may first think!
Your wishes made simple
Now we know that ‘younger folk’ don’t want to think about death, let’s be honest it isn’t the sexiest topic, in some cases it’s even seen as a bit taboo. It wouldn’t be the ‘typical’ topic of conversation in the pub on a Friday night with friends, casually discussing estate planning, but hear us out…
Simpwill have taken the time to break things down into simple bite size chunks for you, to make things that little bit easier to understand and educate you about why you aren’t too young to be considering writing your will.
Top reasons to write a will whilst young:
You are a young family
Protect your partner if you are unmarried or married and decide who you would be in charge of your final wishes. Writing a will would name your childrens’ guardians and ensure that they are provided for financially. The best way to assure what happens with your children when you die is to write a will. If you have children under the age of 18 this is critical, without a will the courts may have to decide who would care for them.
You own a house
Safeguard your family home. Perhaps you have just bought your first property or moved into your forever home. Making a will with Simpwill allows you to specify how you wish to divide your estate, including any property or funds. You can make an inventory of your possessions and specify how much you want others to inherit, avoiding any unnecessary family feuds.
You have pets
Who would look after your pets in the event of your death? Just like children our pets are just as important to us and making sure they are looked after if we aren't around is as simple as stipulating the guardianship within your will.
You own a car or any assets of any value including digital assets
Music, photographs or websites are things to be considered. Where does the ownership lay following your death? Things such as social media and what you want to happen to those accounts, whether they should remain open or be closed or the information sent elsewhere.
Whilst it is true that under UK law only adults over the age of 18 can create a Will and/or Lasting Power of Attorney but this does not mean that the planning process should be delayed until later in life. These documents will ultimately determine what happens to you if you are unable to make your own decisions regarding your finances or health, as well as protect your assets and possessions stipulating how they will be handled in the event of your death.
Everyone over the age of 18 with sufficient mental capacity should have a will drafted as soon as possible. Accidents, injuries and diseases do not discriminate based on age and we never know what is around the corner. By simply completing a 15 minute process at low cost (even with the option to split the payment with Klarna) you can rest assured knowing everything is in order for you and your family. No matter how pressing matters may seem (we all know adulting is hard work) Simpwill can present you with a will in a few simple steps, with minimal impact to your day to day life whilst protecting much more long term.
Updating your will
Milestones in your life should be celebrated; buying a house, having a child or getting married… it shouldn’t be a costly affair to update your will as these moments happen. With Simpwill; we make writing your will easy and updating it, just as simple. Simpwill offer their customers the ability to edit their documents at any given time, from the comfort of their own home, simply by logging in. No costly solicitor fees just you and your device whilst enjoying ‘snacking in your comfies’. It couldn’t be simpler to write and edit your will from the comfort of your own home.
Let’s start writing your will
So what are you waiting for, you can’t be Peter Pan all your life, you’re not invincible. Writing your will today will assure the safety of your family and assets and take the pressure off your family having to make these difficult decisions on your behalf during an already testing time.