Do I need a will at age 28?

[The Sum of Awe]

I've been thinking about the possessions I have. I have a car (it's nothing amazing. 2013, over 100 miles on it, has a few issues. probably worth $1000 now) But still I suppose a car is a car.

I have a house, only started paying on it a couple years ago. I'm not sure how that works. Does the house actually belong to me even though it's not paid off? Could I put that in a will and they could sell it and keep whatever money i put into it (if they sold it for what i bought it for?)

I have a savings and checking through a bank. I have a beneficiary set up (not sure if that only applies to all of my accounts or if i need a beneficiary for each)

I think my 401k plan i have through work also asked for a beneficiary. I suppose if I have beneficiaries on things, i don't need to have a will for them right?

That's really all I have. And then all of my possessions within my house of course. But I'm wondering if that can't just take the stuff they want if it's personal items like that?

Should I get a will?

 

[F1fan]

Yes. Since you have assets having a will can make the probate process go faster. Otherwise the court will decide what happens to your assets. You will need to name an executor, someone you trust to manage your estate. A lawyer can set up a simple will in an hour.

In a will you can state who you want to get specific items. In Kansas there is no need to go through probate court if the estate is under $20,000.

Before my mom died we did a transfer of deed upon death filing at the county, and that way her house wasn't part of the estate, and just became mine.

 

[sun rise]

Two question - if you answer either one 'yes', I'd have a will.

1. Do you care what happens to anything you own (including the house even though you're making payments)?
2. Would dealing with your estate be a real hassle for someone you care about?

 

[SalixIncendium]

Based on what you're telling us, yes, you do.

If you have any assets and wish for them to be left to a specific individual, then you need a will, otherwise you risk those assets being tied up in probate in the event of your death.

 

[Twilight Hue]

I've been thinking about the possessions I have. I have a car (it's nothing amazing. 2013, over 100 miles on it, has a few issues. probably worth $1000 now) But still I suppose a car is a car.

I have a house, only started paying on it a couple years ago. I'm not sure how that works. Does the house actually belong to me even though it's not paid off? Could I put that in a will and they could sell it and keep whatever money i put into it (if they sold it for what i bought it for?)

I have a savings and checking through a bank. I have a beneficiary set up (not sure if that only applies to all of my accounts or if i need a beneficiary for each)

I think my 401k plan i have through work also asked for a beneficiary. I suppose if I have beneficiaries on things, i don't need to have a will for them right?

That's really all I have. And then all of my possessions within my house of course. But I'm wondering if that can't just take the stuff they want if it's personal items like that?

Should I get a will?

Anything can happen so it stands to reason that the earlier the better I would think.

 

[☆Dreamwind☆]

It's never a bad idea. No one is guaranteed a long life.

 

[ChristineM]

Should I get a will?

I would say yes. It saves a load of hassle should the worst happen.