You Never Know what the Future Holds
22 June 2021 by Jane Golding
Most people in their 20’s and 30’s do not even consider planning for their future needs and most people in their 20’s and 30’s would never consider making a Will.
No one can see into the future and this means that no one knows when an accident or illness or even a pandemic could strike. 2020 and 2021 have been dominated so far by Covid-19 which has claimed the lives of so many loved ones closest and dearest to us all over the world and continues to do so. Covid-19 did not know how old they were and therefore being in your twenties and thirties does not make you invincible. It is always wise to be prepared for the unexpected.
It is better to prepare early and make your Will now rather than to keep putting it off until it could be too late to take action. Once you have made your Will, you can relax knowing that you are covered should anything happen in the future.
Did you know that unmarried partners are not recognised under the Rules of Intestacy?
A large number of cohabiting couples do not fully understand their legal rights. If you own part or all of the property do you know what would happen to this when you die? This is important for cohabiting couples to consider within a Will.
Do you have children? As parents and especially as a cohabiting couple?
It becomes even more important that you consider making a Will as your children will be considered your most important asset. Children under 18 are considered as minors and the only way you would be able to provide for them should you die when they are a minor is within your Will. If you do not have a Will in place and you should both die, if families could not agree who should look after your child(ren) then it would be left for a Court to decide and the costs involved would be payable from your Estate.
Do you have Pets?
Many of us have a soft spot for a family pet, but what happens should you die. Again your Will would be able to address the arrangements you would desire in the event of your death for the care of any pets owned by you.
Do you have assets?
If you are single you may think that you do not have enough assets to leave, but your Will can include gifts of your personal possessions as well as money. You may in fact be worth more than you realise, your workplace may have insurance cover in place for you. In time you will accrue assets at which point you would need to consider amending and updating any Will in place.
There are many advantages to making a Will whatever age you are.
None of us really like talking about this subject but Covid-19 has made many of us if not all of us realise anything can happen to anyone at any time and this could be you.
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