“When” is a great question. This always comes up as a topic of discussion when I host seminars. Inevitably someone says something along the lines of “now that I’m getting older it’s time to start thinking about getting my affairs in order.” This comment usually elicits some head nodding. It’s not a bad idea, get it done!
Normally I offer that really, as soon as you’re old enough to contract you should have a Will. This comment surprises some people. But indulge me for a moment and think about it. Now, when you’re very young, say 18 years old, your Will is likely going to be pretty basic. Spell out who is in charge and where your stuff goes. However, your life might be more complicated by then too. Guardianship nomination for children, for example. You might have some special belongings that you really would want a best friend or co-worker to have, or maybe a charitable donation is important. The point is, having this information spelled out in a Will is like an insurance policy to make sure that information is known.
While you’re at it, why not make sure you have a complete plan. Think about Powers of Attorney and a Living Will for while you’re living.
So, when should you write a Will? As soon as you can.
