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Is it too soon for young adults to make a last will and testament?

On Behalf of | May 22, 2024 | Estate Planning, Wills |

Life is unpredictable, and its twists and turns affect people of all ages. Therefore, having a last will and testament may help you prepare for unexpected and unwanted situations that could lead to death.

With a will, you can direct what will happen to your property after your passing. This ensures the fulfillment of your wishes, rather than letting the court decide how to distribute your property. Since no one knows when death will come, is it advisable for young adults to get into estate planning by creating a will?

Who can be a testator?

In Virginia, mentally competent adults who are at least 18 years old can create a will. Moreover, testators should have created their wills without undue influence, duress or fraud. A will can be invalid if the testator did not make it voluntarily.

Why should you make a will?

Aside from assigning your property to your desired beneficiaries, a will allows you to name an executor or personal representative. They will be in charge of handling your estate and executing your will.

For parents, you can nominate a guardian for your minor children. In addition, you can create a trust through your will for the education and support of your kids.

Why do you need witnesses?

Two competent adults must witness the signing of a will, and they must also sign it in the presence of the testator. Meanwhile, it is a recommended practice to have a notarized will. In addition, another option is securing a self-proving affidavit, which confirms that the court accepted a valid will without testimony from witnesses.

Expecting the unexpected

Having a will early may allow young adults to brace for life’s uncertainties. As you achieve milestones and undergo major life changes, you can update your will to ensure that it is still in accordance with your desires and wishes.

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