close menu

I'm too young to need a will

by Sherron Alexander-Bedingfield | Sep 30, 2016
  • I am often told, “I don’t need a will; I have nothing to leave to anyone”. Naturally, my response is always that everyone over the age of 18 should have a will. Why? Because, it makes life so much easier for those left behind.

    Having a will cuts out a lot of the bickering and arguments between family/friends during a time when emotions are running high and people are grieving. However, the reality is that those aged between 18 and 30 are unlikely to have a will in place.

    Assets have fundamentally changed

    The assets of this generation are limited to say the least! Most do not have savings, rather student loans. Their assets have little, if any, monetary value, are often held “in the cloud” and in digital formats. Questions also arise as to whether the digital asset is actually owned by them and thus capable of being included in a will.

    However, the “emotional value” of the asset, can be high. Photos, videos and blogs held on the ever-increasing array of social media accounts can provide comfort to friends and family who are trying to hold onto memories. There may even be some cash value in  domain names, produced music or unpublished articles held.

    Intestacy rules are often unideal

    Where there is no valid will in existence, the intestacy rules dictate who will receive any such benefit, monetary, emotional or otherwise. So it is important that an understanding of the laws that govern the distribution of an intestate estate are fully understood. This can become more complicated where families are blended and the young adult lives with step-parents and the relationship with the birth parent has broken down.

    This is because the intestacy rules provide that the estate would be shared between parents. This is regardless of whether or not the deceased had relationship with his parents.  So it is possible that an absent mother/father can inherit from their child, even if they had little or no contact with them.

    A note on modern day family structures

    If you live in modern day family structures that are blended, with separated, cohabiting parents or second marriages. It is especially important that not only the parent, but also any young adults think about who will inherit under their estate.

    You can read more about the complexities of modern family structures and estates here. For any wills-related advice give me a call on +44 (0) 20 7759 5531 or send me an email.

    We are a professional services company that specialises in cross-border financial and immigration advice and solutions.

    Our teams in the UK, South Africa and Australia can ensure that when you decide to move overseas, invest offshore or expand your business internationally, you’ll do so with the backing of experienced local experts.

    • Property with price tage
      It’s a great time to buy your first UK property – here’s why
      Jun 03, 2019  |  by Marlon Borez
    • Handing over house keys
      Contractor mortgages: What you need to know for a successful application
      May 31, 2019  |  by Ian Henning
    • House rent protection
      Rental guarantees: What lenders think about rent protection schemes
      Apr 24, 2019  |  by Bill Monty
    • blended-families
      How “yours, mine and ours” complicates the estate planning process: Advice for blended families
      Apr 17, 2019  |  by Sherron Alexander-Bedingfield
    • Mortgage Concept
      The perfect time to secure a better interest rate on your remortgage
      Apr 03, 2019  |  by Ian Henning
    • growing tree
      The boom behind ESG investing – what’s actually driving the demand
      Mar 26, 2019  |  by Mike Abbott
    • Lightbulb working
      South Africa’s Retail Distribution Review – slow but important changes for investors and advisors
      Mar 05, 2019  |  by Mike Abbott
    • English-house
      Common mistakes that first-time homebuyers make
      Dec 06, 2018  |  by Ian Henning
    • Man-on-a-rocket
      Are you a UK contractor? Maximise tax-efficiency by using your pension
      Sep 25, 2018  |  by Bill Monty
    • terraced-houses-in-london
      Are you a UK contractor? Here’s how to get your mortgage approved
      Sep 12, 2018  |  by Marlon Borez

    South Africa

    Cape Town

    Regent Square
    Doncaster Road
    Kenilworth 7708 +27 (0) 21 657 2120


    25 Richefond Circle
    Umhlanga 4320 +27 (0) 31 536 8843

    United Kingdom


    One Croydon
    12-16 Addiscombe Road
    Croydon CR0 0XT +44 (0) 20 7759 7514



    9 Yarra Street
    South Yarra
    VIC 3141 +613 (0) 8651 4500

    Sable International is a trading name of 1st Contact Money Limited (company number 07070528), registered in England and Wales. We are authorised and regulated by the Financial Conduct Authority in the UK (FCA no. 517570), the Financial Services Conduct Authority in South Africa (1st Contact Money [PTY] Ltd - FSP no. 41900) and hold an Australian Financial Services Licence issued by ASIC to deal in foreign exchange (1st Contact Group - AFS Licence number 335 126).

    We use cookies to provide the best website experience for you. Using this website means that you agree to this. How we use cookies.