Why should an 18-year-old prepare a will?

Dying without a will creates additional hassle and expense for those who survive. Teenagers are best advised to prepare a will so that they begin to have a focus on having a financially successful life. Having a will helps teens think about their future as well as about what they own and how much such things might be worth.

Some fortunate teens will receive inheritances from grandparents and may have legal rights over that property at the time of attaining age 18. Other teens may have nothing more than a pet, a car or a music collection. However, specifying what they want done with the pet and to whom they want to receive their items of personal property can be important personal decisions.

Finally, young adults are often receptive to parental suggestions that reinforce their notion of independence. Accordingly, parents can suggest, as circumstances merit, that their young adult children open a bank account in their name, meet with a stockbroker or financial planner, and meet with an attorney to prepare a will.

Category : Estate Planning &Probate Law &Will Contests

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