When Is the Best Time to Create a Will?
While legally you can create a will once you hit age 18, you might not necessarily need one at such a young age. There’s no magic number when it comes to the age you should write your will but more a series of checkmarks to see if writing a will would be in your best interest.
Wait If You Are Single With No Assets
You shouldn’t be too concerned with writing a will just yet if you’re young, broke, single, and don’t have kids. You just don’t have enough assets to warrant it, and your estate would likely go to your parents or guardians, or what little you do have. Most of your estate would likely end up going towards settling your debts anyway, so there might not be much leftover anyway.
Create a Will If You Have a Family
If you are married or have children, you should definitely write a will. While your estate and guardianship of your children and their share of the estate will likely go to your spouse, this isn’t a guarantee, and why take that chance if you don’t have to.
Assess Your Assets
The other deciding factor of whether you should write a will at your current age or not is your net worth. If you have a positive net worth, you definitely should write a will as there will likely be an inheritance to be divided, and you’ll want to make sure it is distributed according to your wishes.
If you need help writing a will or are looking for more information on whether you should write a will, a probate attorney in Las Vegas may be able to assist you.