In your 30s you have a lot going for you. Hopefully your career is on track; you may be married, getting married or in a long term co-habiting relationship. You might be buying a house or even have a baby or two. I guess that it’s true for every stage in our lives, but for me there was something about turning 30 that meant making ‘grown up’ decisions.
It may be a little morbid to think about death in your 30s; but it’s actually really important to make sure your affairs are in order to prevent any possible stress your loved ones could go through. Almost two thirds of the British population haven’t made a Will. This figure is even higher for adults in their 30s. There is potentially a lot to lose and if you are a 30 something who hasn’t yet made a Will, here are the two biggest reasons you should do so.
Why it’s important to make a Will in your 30s
- Children Let’s be honest, Wills aren’t all about you. They are mainly about your family and your loved ones. One of the most important reasons to make a Will in your 30s has nothing to do with who gets your assets; it is to do with your children. A Will allows you to appoint the guardian for your children in the event of your death. Without a Will who do you think will decide what is best for your child?
- Co-habiting couples According to the Office For National Statistics, cohabiting couples continue to be the fastest growing family type in the UK. What many people don’t realise is that if you are part of a cohabiting couple, and have not made a Will, you have no rights under the Intestacy Rules, however long you have been in a relationship. The rules of intestacy can be harsh and often don’t allow for modern family relationships. Therefore, if you are part of a cohabiting couple family, it is especially important that you and your partner make a Will to ensure that what you own, including your house, goes to who you choose. Without a Will who owns your home (and everything in it) if you or your partner dies?
It really is that simple. Stop putting it off and arrange to make your Will now! You might also consider making a Power of Attorney at the same time too. You probably already know what you would like to do with your things and who you want to care for your children if you die before they are 18. It can take as little as 15 minutes and then you can sit back and relax knowing that it is one less important thing to worry about.
To talk to Philip about making a Will or a Lasting Power of Attorney contact him through LinkedIn, call him on 01455 639900 or e-mail him at email@example.com