The “Why & How” Young Adults Should Prepare a Last Will & Testament

Multi-platinum producer/songwriter, Terius Youngdell Nash aka The-Dream, posted a photo that caught my attention this week.  While taking a trip to North Carolina, with his kids, the thought of death was apparent when he posted a picture of his deceased mother and a the cover page of his Last Will & Testament.  The reality of 36 year old The-Dream taking care of his responsibility at a young age was admirable. How many other successful or semi-successful young African-American males have their Will prepared and documented?  Probably not many.

So, this got me to thinking.  Would a young person even know where to begin?  Would they know what information to include in the Will?  Again, probably not.

The goal is to make sure your family, kids, and or close friends are aware (in detail) of what to do with your assets in case you die. Many people don’t even like to talk about death. But the reality is that too many of our young adults are leaving this earth too soon.  To ensure that your prize possessions (some of which may not even have a monetary value) are given to the right people, it is imperative that a Will or  some form of notarized Designation Letter be completed.  There are several websites you can go to obtain a sample copy or blank template for you to fill in (i.e. LegalZoom.com, USLegalForms.com).

Wills that are established through an attorney may ask for much more detail than a simple designation letter. Usually individuals with very large estates rely on a lawyer to draft their Will so that no stone is left un-turn. However, it doesn’t really require all of that. There is essentially only a few main questions that need to be answered and documented in your Last Will & Testament. In case you or a family member is in the process of preparing their Will, here’s a list of key components that MUST be included:

• Name, address, social security number, drivers license number, and any other information that can identify who you are.
• Age and current state of health (mental and physical).
• Designate an Executor & Alternate Executor – someone who will be responsible for paying for your funeral expenses, taxes, etc and also distribute your estate to your assigned beneficiaries. An Executor can be someone you can trust (i.e. a family member, best friend, beneficiary).  
• Statement about who shall become guardian(s) of your children and/or pets after your death.
• List of beneficiaries and an outline of what property, personal items, or money they are to get. Add their address, date of birth, and in some cases their social security number so that the judge or attorney can be clear as to who they are.
• End of life requests and funeral arrangements.
• Official signatures of you and two witnesses (NOT a beneficiary). It is also best practices to have it notarized.

The addition of the information listed above is critical to your Will.  Without this info, most Wills are not deemed completed and is very difficult for a judge to sort out.  The more components you include the less headache your family members will have. When death occurs in a family, unnecessary foolishness often get stirred up between family members. In order to prevent the animosity and confusion, prepare a Last Will & Testament so that the distribution of your estate is made very clear.