My uncle died without a will, and the resulting uncertainty about what he would have wanted to happen to his property created a lot of bad feeling among his children. So I know it's important to make a will, but I'm just in my 30s and don't own a lot of valuable property. When should I make my will?
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Answer: (1)
You're not too young to make a will. After all, there's no downside to having one; you can always make a new one later, if your life circumstances change. Most people make more than one will in their lifetime.
And as you found out through your own experience, there can be a considerable downside to not having a will. When someone dies without a valid will, state law steps in. The law dictates who inherits the property, who will serve as executor, and if young children need a guardian, the judge will appoint one for them--all without any input from the deceased parent. Obviously, it's unlikely that state law will line up exactly with what the deceased person would have wanted.
Making a will doesn't have to be difficult or expensive. Most people can prepare a simple will themselves with an online service or software program. If you have questions, consult an estate planning attorney.
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Posted by Sharon Cullars on 29 Jan 2010