When most people hear words like wills, trusts, and estate planning, they automatically assume these tools are reserved only for the elderly or the infirm. But in reality, any adult of legal age should have a will in place. Even young people without substantial assets or high incomes can benefit from the protections this document provides. Below are a few reasons why.

Why Having a Will Is Crucial 

1. The Future Isn't Guaranteed

When you're young, it's easy to think that life is one endless adventure. But as you age and start to experience the fallibility of this very human body, you realize that the future isn't guaranteed to anyone. What would happen to your assets, home, or loved ones if you died suddenly? A will lets you make arrangements for all aspects of your estate.

2. You Want to Ensure Your Children Are Cared For

If you're a new parent or are considering becoming one, you obviously want to do everything in your power to ensure your kids are taken care of. A will lets you make specific provisions for their guardianship as well as your preferences for how they are raised.

3. You Should Protect Your Digital Assets

Many young people enjoy a substantial virtual life. They might have various social media accounts, online bank and payment accounts, or digital currency. They could also have a website or blog. A will lets you make specific arrangements for digital assets and online accounts. Consider what would happen to your online presence if you were to pass away. In your will, you can name someone to handle these aspects of your estate; you can include information on how to access these accounts, how you want them managed, and what you want to happen to any funds associated with them.

Begin the process of creating a will by contacting Pater, Pater & Halverson. Since 1889, they have represented the Hamilton, OH, area in all aspects of estate planning. Call (513) 867-1411, visit them online, or message them on Facebook or Google+ to schedule an appointment.