Am I too young to write a Last Will and Testament?

Am I too Young to Write a Last Will and Testament? 

Over 60% of adults don’t have a Will, and this is across all of the countries that we support; the US, UK and Canada. For Expats, this number is almost certainly going to be higher, because the process is that much more complicated.

This means one out of two adults are woefully underprepared for their own death! On a daily basis not many of us like to think about our inevitable demise, it’s morbid and something that most of us don’t want to think about. Like going to the dentist or sitting an exam, there are some uncomfortable scenarios that we put off for as long as possible. Writing a Last Will and Testament should not be one of them.

However, there comes a time when we need to face the cold hard reality that we won’t live forever and you need to write a last will and testament. Granted, writing a Last Will and Testament isn’t the most fun you can have, and when you’re young there are a million and one exciting things you would rather do but it’s really not such a long and laborious process as you might think. To help you see the benefits of having a Will we have outlined the reasons why you’re (almost) never too young to write one.

The Young Ones

In 2014 Rik Mayall, a star from the popular ‘The Young Ones’ TV series passed away unexpectedly without leaving a Will. This resulted in extra fees and expenses for his surviving family, never mind the added turmoil of not knowing how he would have liked his estate to be shared.

But this happens all the time. If you took just musicians, you could form a supergroup of Prince, Jimi Hendrix, Amy Winehouse, Billy Holliday, Bob Marley, Barry White…..the list goes on.

 

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How to write a Will – the service at ExpatLegalWills.com

How to write a Will

Most people know that they need a Will, but with 65% of adults in Canada, the UK and the US without a Will, there is clearly a barrier to getting it done. In most cases there is a misconception that in order to prepare a Will, you must have an estate planning lawyer or solicitor involved.

For Expats this presents a unique challenge, especially if assets are held in more that one country. You need a Will for each country in which you are holding assets, and you would need to find a qualified legal professional in each country to deal with your estate planning needs.

You may have heard about using do-it-yourself Will kits, or online Will services, but again, with assets held in different countries, you are rightly skeptical that an off the shelf Will kit would be able to cope with the complexities of your estate.

But travelling to each country to meet with a lawyer or solicitor to draw up the legal documents is simply not practical, especially if there are other family members involved. This makes the estate planning bill escalate into the thousands of pounds or dollars. Continue reading