At what age should you consider writing a will?

Answer 1

when you feel settled enough to do it

Answer 2

You should really think of writing a will as soon as you reach 18
by this time you could be earning money and have assets. But remember a will is not just about assets, you may have strong views about cremation or burial and where you want to end up or even the music at your funeral. A will is about your last wishes.
You should review your will every 4-5 years as your circumstances change. You should have a will in place when you purchase a property and some mortgage companies require this. Certainly when you have children you owe it to them to have a will. In a will you can say who you would wish to look after your children should both you and your wife die in an accident. This prevents them being taken into care by the local authority.
When buying a house buy it as 'Tenants in Common' and not as joint owners. This has many benefits one of which is that you can leave your half of the house to who ever you like. ie children
this limits the value of the partners estate and can bring it under inheritance tax levels. It also prevents the house being sold to pay for the surviving partners care should they have to go into a home.
In short you are never to young to make a will it is as important as any other part of the many documents we need in our lives today.

Answer 3

for a twelve year old i'll give you a 7 out of 10, maybe 7 1/2. if you were to be a published author, i'd give you a 4. it seems really random and not enough detail. detail is the most important thing in writing, and if you had more of it, your rating would go up to a 6. but yeah, for your age, you are pretty good and i see a lot of potential(: your writing ability is how mine was when i was your age, four years later and i'm amazing, well it's what people told me. keep writing and you'll go far xD

Answer 4

Preferably as a young adult in an official way. Remember to update it from time to time as you accumulate more assets or whatever it is you want to pass onto others. It cant hurt to do this even when you are a young person, after all you want to make sure stuff goes to the right person/s and it will give you peace of mind. Keep it in a special place where it could be found if something ever happened to you but lets hope you have a very long happy and successful life anyway, Im sure you will.

Answer 5

I would say that age is less-relevant, and posessions and worth are more relevant.

If you have a fair amount of financial holdings and/or property, it's time to think about what should happen to them in the case of your untimely demise.

A will is nice, but a *trust* is far better, as it is managed by someone of YOUR choosing, and has tax advantages among other tricks that a simple will cannot provide.

You might consult the web about setting up a personal or family trust. It will give you a better insight as to the options available before and after your passing.

I hope this answers your question.

Answer 6

16

Answer 7

Theoretical, once you are of age your property is in your right. For this reason, I think everyone should make a will as soon as they come of age unless they want their property to go to their next closest family member. By making a will you can have your property dispatched in just the way you want. You don't need to stress over the details while you are young, but I think a general will might be a good thing.

Answer 8

If you have children, you need a Will. Wills aren't just for the rich. States have what they call intestate laws (intestate means dying w/out a Will). Basically, if you die w/out a Will, the law then determines how your things are divvied up. It may not be quite what you had in mind, giving your spouse money and the rest to your kids in trust, vs. all to your spouse. I don't think that age has as much to do with circumstances. Wills are also used to specify guardianship, trusts, etc. Getting one is relatively cheap. Give some thought to who you would want to get what, if you have kids, who you would want to be a Guardian of the person (legal guardian) and a Guardian of the trust (the money)

I need to get a Will, thanks for reminding me ;)

Answer 9

At 52 it is far too soon to be thinking of such things.

I did think about it some years ago but that was only because I had something to leave...I have now sold my collection of Farrah Fawcett Majors dental moulds and have no immediate plans to collect anything else.

At a guess?....oooohhhh...about 80?

Answer 10

As a general rule of thumb i would say when your self total net worth is worth more then 10k at any age because anything under that would just pay for your own funeral expensis and past little debts

Answer 11

Just as soon as you reach "legal age" in your state. It's important to have a will because you never know what can happen and if you don't have a will then some "next of kin" rule would apply which might not reflect what your actual wishes are.