When should I think about a Will?
If you’re working, if you own anything that if of value to you, if you have children. There could be a whole host of events that would trigger you thinking about setting up a Will. Most people don’t want to do it if they’re fresh out of college and they don’t feel like they won any assets. However, at the point that you buy something that’s important to you, you might need one or if you have a bank account just consider doing some basic estate planning, you don’t have to set up a will.
There are ways to avoid probate or different things like that, if you have a bank account you might need to just go to the bank and set up a payable upon debt to designate someone to be the beneficiary of that account upon your death so that they can take care of whatever funeral arrangements or different things that you want to happen. But a will is going to tell people what you want to happen so you can formally do it in a will or there are other ways that you can do it but you need to consider what would happen to whatever you have.
You don’t want your family members to have to figure it out in case of an emergency. You want them to know that they are following your wishes. So, if ever you feel like there might be some ambiguity or people might not know what you would want done that’s when you need to think about writing it down and memorializing it with a will or some sort of plan.
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