Stewart, McArdle, Sorice, Whalen, Farrell, Finoli & Cavanaugh, LLC
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Why do I need a will when I'm young?

It may be hard to talk about, but planning for your death by creating a will is an important part of caring for your family. It outlines your wishes and intentions upon your death and can alleviate stress for those you love.

When you're a young adult, it's easy to put off creating a will. A will is often associated with elder end-of-life planning and therefore, many young people postpone thinking about it. With a will, you're not only planning for the designation of your assets but addressing other legal matters as well. A will can be an important part of a young family's life when children are involved.

An estate plan for a young family includes designating a guardian to care for your children in the event of your death, naming an executor to administer your will and planning for the distribution of your assets.

Designating a guardian for peace of mind

While creating a will is important for asset planning, designating a guardian for your young children might be a higher priority for your peace of mind at this stage of your life. When you specify your wishes in writing, you have the chance to name the person you find most suitable to care for your children, giving you more control over will happen when you die.

Additionally, your written wishes in a formal document eliminates the guesswork, confusion and contention that might occur among surviving family members. Your family members may have different ideas about who takes the kids if you were to die and without specific preferences in writing, your wishes may not be honored. Casual conversation isn't enough; expressing your desire to family members at the dinner table won't guarantee things happen exactly as you desire.

A will doesn't need to be complicated and can evolve over time as your needs and estate change, but it's important to get started.

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