Now trending: Drafting a will in 30s
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For 36-year-old Sampark Jain, Agatha Christie's short story Strange Jest influenced him in more than one way. The story, which recounts the tale of a young couple trying to solve the riddle of their uncle's inheritance left to them with the help of clues being left in his will, struck a chord with Jain. "It got me thinking about making a will," said Jain, who had recently invested money in the shares of a reputed company.
"When you have youth and health on your side, you tend to think you are immortal. Unfortunately, none of us are. And there is no reason why you should not make your will at a young age if you have assets, which many youngsters do now," says Jain, who is in the real estate business. After a long discussion with his lawyer, he decided to make a will that would ensure his family doesn't have to go through legal wrangles after him.
When an adult dies without making a will, the person's estates are passed down through the laws of intestacy. These laws, however, follow the rule of "one size fits all" and as a result the assets may not be distributed in the way the deceased would have wanted them to. This might be one of the reasons that more and more young individuals in their 30s and 40s now prefer to make a will.
Advocate Raju Madhavan says anyone over the age of 18 years can make a will. "There used to be a time when only old people used to make wills. But it is changing now. More and more young, working professionals now prefer to make wills," he says.
For 45-year-old Seema Patel, a social worker and an entrepreneur, a will was a way to ensure that her favorite charitable institutes got money when she was no more. "I support a lot of causes and charities. I want to make sure that even after I die, they continue the good work," she says.