When you wake up and realize you’ve reached your 30s, it’s possible that you’ll understand just how much you have to do. When you’re a teenager or 20-year-old, you’re barely starting out in life. Now, you may have a family and career you plan to advance in. You want to do everything you can to help yourself.
One thing that you need to do at this stage is work on your will. A will is particularly important if you have children or a spouse you want to protect if you pass away.
A will also protects you by allowing you to determine how you want your estate split upon your death. It’s possible to make a will yourself, but it’s a better idea to take the leap and work with an attorney to begin your estate plan. At this point, you won’t have much to do, so working with an attorney now will help them become familiar with your estate as you add to it in the future.
Why is a will so important?
Wills are important because they protect your estate. For example, if you die without a will, the state dictates how your estate is doled out to relatives. In that case, you may find that your spouse is entitled to everything. If you don’t have a spouse, the estate could go to your child or directly to family members.
If you don’t like the way the state intends to divide your assets, you need a will to dictate what you want to see happen. Your will should also include a durable power of attorney, release-of-information documents and a living will, which gives your loved ones directions for your care if you are unable to take care of yourself.
Wills aren’t just for the elderly
While many people believe that wills are for those growing old, the reality — as much as nobody likes to contemplate such a sobering truth — is that anyone can die at any age. Although you’re just in your 30s, a serious car crash or a medical emergency could strike, leaving you at the mercy of the medical system and your loved ones’ preferences.
Having a will in place protects you and your loved ones, no matter what age you are now. It is critical to clarify what you want to see happen in the case of your death or severe disability, so you don’t have to worry about what happens to your estate, your children or yourself.