Why young people are being encourage to write a will

Young people are encouraged to write their final wishes, even if the prospect of death seems remote, at the launch of Will Aid, an annual charity campaign in which lawyers waive their fees to prepare basic wills in exchange for a donation.

Dinner parties, love letters, and secret recipes are perhaps not the first things that come to mind when you think of writing a will.

But for a growing number of young professionals, these personal touches are taking priority when planning what happens after they die.

“I left little notes for my loved ones and gave my best friend a gorgeous dress,” says Kate Davis, a 31-year-old Londoner who began writing her will after reading Atul Gawande’s book Being Mortal, about end-of-life care.

But Kate didn’t return to the document to add more personal touches until her father Mark died last year.

“The sudden death definitely triggered us to think about these extra things,” he said.

“I wanted a chance to tell people how much I loved them, even from beyond the grave.”

This sentiment is increasingly common as more young people talk about protecting their assets and making arrangements for after death.

Young people are increasingly including digital assets such as cryptocurrency, social media accounts and online businesses in their wills, according to Emily Deane of the Association of Trust and Estate Practitioners.

According to the National Will Report, one in four people claim they don’t know how to write a will, while others think their estate is so simple that it doesn’t even require a will.

Octopus Legacy founder Sam Grice is trying to change that by encouraging more young people to write wills after his mother Jeanette died in a car accident when he was 27.

“My mother had a will but it wasn’t up to date and that caused a lot of friction,” he said.

As a result, Sam and his family had no idea what to do when it came to the funeral.

“It was really difficult trying to do justice to her without having a clear idea of ​​her wishes,” she says, describing family tensions and disagreements.

Sam admits that they didn’t know where to start when it came to Jeanette’s financial affairs and closing her bank accounts, and “called up a long list of potential accounts and waited on hold, only to find out she had closed the account years ago.”

Years later, Sam says his family kept finding other accounts in his mother’s name that had not been closed properly.

Sam, who has seen first-hand how families like hers struggle with the death of a loved one without a will, says millennials who rent and have no children are one of the forgotten groups.

Emphasizing how important it is for them to maintain their responsibilities, he says, “After all, no one is having this conversation with them properly.”

Interestingly, he notes how younger generations approach the process of writing a will differently.

Even if they do not contain traditional assets such as property, many wills include personal items, from family recipes to farewell messages.

And significantly, nearly 40% of 30 to 39-year-olds who use its service leave gifts for charities.

“The most valuable thing I inherited from my mother is her voice and the videos she took with it,” he says. “How much would I pay to make another video with him? It’s priceless.”

One of the most worrying findings of the National Will Report is that up to 29 percent of people with a will have not told anyone where they kept their will.

Lily Aaron of the Money and Pensions Service says: “Life for young people can change quickly, whether that’s moving in with a partner, getting a pet or starting a family, and having a will is an important way to ensure your wishes are respected.”

Sophia Maslin, founder of online DIY service Morby, added: “I think a number of factors have made death more acceptable for young people.

“Covid is one of them, and we have become desensitized to death through social media.”

DIY will services have become popular online due to their affordability and convenience, but to be legally binding, they must be properly written and signed by the testator in the presence of two independent witnesses over the age of 18.

Morby has recently drawn attention to making a will on TikTok for its whimsical marketing efforts that use a playful tone to spark conversations.

In the campaigns “Do you want Netflix, will you do it?” There are slogans such as. and “plan your exit like a celebrity” were well received.

As more young people become interested in writing wills, this task, once seen as a “laborful, morbid document,” is increasingly being redefined as part of everyday financial well-being; It’s a way for those under 35 to take control of their future plans.

Emily Deane of the Association of Trusts and Estates Practitioners says every adult should have a simple will.

“As a lawyer, the general advice is to review this every three to five years or after major life events such as birth, death, inheritance or starting a business,” he says.

Its basic steps are:

• List your assets and debts: It includes property, bank accounts, pensions, life insurance, and personal belongings. Some may have emotional value rather than financial value.
• Appoint an bailiff: This person will carry out the instructions in your will. This person could be an attorney or trusted family member, but always check for possible fees.
• Name your beneficiaries: Decide who will inherit your property: family, friends or charities. If you have children under 18, appoint a guardian.
• Save your funeral wishes: Indicate whether you would prefer burial or cremation, or whether you would like to be interred in a family plot.
• Keep safe: The original of the will must be kept safely, as copies are not legally valid. If only one copy is found, your property may be divided into: testament laws instead.