Research carried out recently has shown that only a small percentage of young people aged 18 to 34 currently have a Will.
This amounts to approximately 20% of all younger adults having made the steps to plan their estates in the event of their deaths. Will writing solicitors in North Wales always encourage their Wills customers to consider their futures, no matter their age.
Steps to reduce the legal age of being able to validly make a Will could be taken this year, allowing those aged 16 to make this all important document. Recent incidents involving younger celebrities have put the importance of estate planning in the spotlight. Liam Payne and Michael Schumacher are just some of the famous people who have hit the headlines in the last few years with the impact of not having a Will and the vital roles of Lasting Powers of Attorney being highlighted, making them more valid to younger residents in the United Kingdom.
For many reasons, there are a growing number of young adults who are accumulating wealth, sometimes on the basis of their online presence and work as influencers. This can now be translated into legacies in Wills, as trends to include digital assets increase. Social media accounts, for example, could be memorialised or instructions for the continuation of these can be included in the Will.
Our team at Bennett Smith Solicitors will be by your side to organise your Will and estate planning, so contact us now to book an appointment.
