Too many people put off creating a will until they are nearing retirement. For some people, this is because they do not like to think about death. Others may delay because they do not realize the importance of such a document.
There are many reasons why it is a good idea to start planning a will earlier in life, including protecting children and making it easier for surviving loved ones.
To ensure the best interest of their children
Many people start a family while in their 20s or 30s, and when people pass away at these younger ages, they often leave behind minor children. A will ensures that survivors divide assets fairly, according to the decedent’s wishes. Parents can also use a will to appoint a guardian who will care for the children if both parents are gone, allowing the parents to make a decision in the best interest of their children. If parents fail to appoint a guardian in their will, the courts will make this decision.
To make it easier on survivors
When someone does not have a will, the potential for conflict among surviving loved ones increases. Having a will for the worst-case scenario takes much of the burden of decision-making away from those who are grieving. While hopefully the worst case does not end up happening, it is always good to prepare.
It is never too early to start writing a will, for these reasons and many others. A will provides peace of mind for all involved.