The Not Spoken About Parenting Topic Of Writing A Will
In this article, we address a not often spoken of parenting topic of when to write your will.
Young people think they are invincible. They zoom through life without worrying about their eventual passing and what this could mean for their loved ones.
However, as unfortunate as it may be, even young people can fall victim to accidents and surprise fatal illnesses.
It is crucial all parents discuss the topic of having a will written. This enables them to prepare for what happens to their assets and possessions after they die.
When To Write A Will
Most people assume that a will is reserved for the elderly or those nearing death. But we are here to tell you that everybody needs a will.
Who knows what life has in store for you! Everybody has heard the saying that “you could walk out your front door tomorrow and be hit by a bus!”
Unfortunately, this is true. Wills and estate planning are topics that are not quite taboo but are often not spoken about.
What is often not known is that if you do not have a will, the state can control what happens to your assets.
This could mean many things:
With older children the state could distribute your estate to your spouse and children. This could mean leaving your spouse with not enough to live on.
If both parents die and there is no will, the state could appoint a guardian. Or, if there are minor children involved, the state may control their inheritance.
Isn’t it a crazy idea to leave your legacy to chance??
Writing A Will Should Be A Top Priority Parenting Topic
For some reason, parents compare every topic about their children and finances. The one topic parents don’t talk about is writing a will and estate planning.
Maybe we think we are invincible and will live forever? You know that whole “It’ll never happen to me” scenario.
Even as a young parent this topic should be a top priority. As you get older, forgive me, this topic of writing a will is a no-brainer.
Legal experts say people as young as 18 should have a will. Even if you are not yet a parent, if you have no will, you have no say.
But imagine if you were a parent, and something happens to you. Where would your money go?
Most people would assume that is would naturally pass to your children. Without a will this is NOT ensured.
This is why we believe that writing a will is the number 1 parenting topic that should be discussed with not only your family. It should be discussed with your friends and definitly with a legal professional.
For anybody over the age of 55, this is a definite priority!
When Writing A Will Should Be An Important Parenting Topic
Joining the Military
Joining the military is a wonderful way for a person to serve their country.
As a parent, the topic of leaving a will is not often first and formost in your mind as you sign up.
However, soldiers are often put in risky situations which could lead to fatality.
It is vital to have a last will and testament. This will ensure that your family is provided for. It will also define where your money goes in the event of your unfortunate demise.
It would be great if parents could make this topic of writing a will an unscary thing. Especially when serving your country!
Receiving an Inheritance
If a person receives an inheritance they must understand the value of this asset. They also need to understand that the distribution of the money may take quite a while.
When a family member dies and you benefit financially the general population will not talk about it. The person inheriting may even feel guilty!
Shouldn’t it be that you talk to your friends? Especially those in a similar circumstance to you?
The topics that most parents talk about are those that are closest to their hearts. Their children, spouses and extended families.
Shouldn’t it be that one of the most important topics to talk to your parents about is not only how their will is written, but also what is in yours.
If your children are old enough, let them know not only what is in your will, but also where your will is stored.
This topic of writing a will and what it means is something that all parents need to become way more transparent on.
Owning a Pet
Most pets do not live as long as their owner, so they are less likely to be included in a will.
By including a pet in a person’s will, they can decide who will take ownership of the pet after their death.
They can also allocate funds from the sale of their assets to the new owner to cover the pet’s expenses.
Owning Digital Assets
Digital assets are a new consideration when writing a will. As such, they are another important parenting topic to discuss when writing a will.
Included in digital assets are social media accounts, PayPal accounts, photos, video games, and many other digital possessions.
These things are personal, so it is natural to have deep concerns about how they are handled after a person’s death.
If parents aren’t discussing the topic of will creation and its contents, then it is very difficult to know what to do with these.
Creating a will that includes directions on what to do with these assets ensures that the deceased’s wishes are carried out without complication.
Specific Medical Directions
We have all seen many stories about families that argue over how to best deal with a loved one in a persistent vegetative state. If not this scenario, there are many other medical conditions where the family is left to make very hard decisions.
If the parenting topic of having and writing a will has been discussed, this process is much easier.
When a person creates a will, they can include a living will and name a power of attorney.
A living will dictates a person’s wishes for themselves if they are ever in a coma, on life support, or similar medical situation.
A power of attorney is a person who has been appointed to act on behalf of the person who wrote the will.
Doing this ensures that a person’s medical directions are followed when they are not capable of making the decision for themselves.
The Bottom Line
Once a person is of legal age to create a will, they should make sure they do so. Even a person’s death seems unlikely, unfortunate circumstances can surprise them. Without a will, what happens to their assets after death is a complicated, drawn-out process for their already grieving loved ones.