When some millennials think of wills, they tend to assume that this document is only relevant once they are comfortable in their career, have settled down and had a family of their own. In fact, you could even be thinking that your current income, savings and assets will not amount to much at the moment and, thus, do not believe a will is necessary. However, this is not the case. Irrespective of how far along you have come in your career, it is still important to ensure you have made plans for any unexpected circumstances down the road. If you have believed that you do not need to hire a wills lawyer soon, consider the following two reasons why you should have a will as a single millennial.

Designate a trusted individual

A major reason why you should draw up a living will while still young is to have the assurance that if anything is to happen to you, then you have an individual that you trust wholeheartedly taking over your affairs for you. You should bear in mind that this individual will not only be essential in the unfortunate instance that you pass away. The person will be granted power of attorney, which means they will be tasked with making both financial and medical decisions for you dependent on your wishes if you are incapacitated. In addition to a living will, you will also draw up a final will. The final will designates an individual who will be charged with supervising the division of your assets and their distribution. Take note that both the living and final will are treated as separate documents, so it is imperative to have a will lawyer draw them up for you.

Avoid probate court from deciding for you

The second reason why you should legally draw up a will while still working at your career is to ensure that you at least have one if you are to pass away suddenly. What some people take for granted is interstate law, which comes into play when there is no will to delineate how assets should be distributed. Although probate court is there to ensure that your estate is shared equitably among the people closest to you, it may not be according to your specific wishes. For example, you may not get along with your parents and prefer your siblings to have your accumulated assets in the event you have no kids. If this is not elaborated in a binding will from an estate lawyer and legally witnessed, then your wishes will not be followed.

For more information, speak to companies like Denovo Lawyers.

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