Too Young for a Will? Why Every Adult Needs an Estate Plan—Even in Their 20s

Being young and healthy may feel like a shield against life’s unexpected turns—but unfortunately, it’s not. Whether you’re just starting out in your career or raising young children, having an estate plan in place is an essential act of responsibility. A recent Barron’s article, “You’re Young and Barely Making Ends Meet. Why You May Need a Will,” makes it clear: estate planning isn’t just for older adults.

Why Young Adults Often Overlook Estate Planning

Statistics show that only about 22% of adults aged 29–44 and 15% of Gen-Z adults (ages 19–28) have any estate planning documents in place. This puts spouses, children, and even parents at risk of being left without guidance if the unthinkable happens.

While most young adults may not have accumulated major assets, they often:

• Have financial accounts, personal belongings, and digital assets
• Engage in adventurous or high-risk activities
• Travel frequently or drive often—both of which increase the chance of unexpected injury or death

A Will Is Just the Beginning

A Last Will and Testament allows you to state who should receive your assets after your death. But a complete estate plan includes much more than that—especially for younger adults.

Some essential documents include:

• Living Will / Advance Healthcare Directive: Appoints someone to make medical decisions for you if you’re incapacitated.
• Durable Power of Attorney: Allows someone to handle your finances, such as paying bills or managing bank accounts, if you’re unable to do so.

Without these documents, critical decisions may be made by doctors or the courts, rather than the people you trust.

Parents—Don’t Skip the Guardianship Clause

If you’re a parent, you need a will that names a guardian for your children. Without this, a court will decide who will raise your child if both parents pass away. Including guardianship instructions ensures your child is cared for by someone you choose and trust.

Don’t Forget Beneficiary Designations

Certain assets, like life insurance policies, IRAs, and investment accounts, pass outside of your will. These are controlled by beneficiary designations, which should always be kept up to date.

For example:

• If your old retirement account still names an ex as the beneficiary, they may inherit the account—even if your will says otherwise.

Reviewing your beneficiaries regularly helps ensure your assets go where you intend.

Estate Plans Aren’t One-Size-Fits-All

The estate plan you need in your 20s or 30s will look different from what you may need later in life. But that doesn’t mean it’s any less important. Planning early lays the groundwork for a more secure future—for both you and your loved ones.

At the Werner Law Firm, we believe estate planning isn’t just for the wealthy or the elderly—it’s for every adult who wants to protect what matters most. Whether you’re 28 or 88, our experienced estate planning attorneys in Texas are here to help you build a plan that grows with you.

If you have any questions, schedule a free appointment with us through our online appointment page.

You can also read reviews from some of the hundreds of clients we have helped over the years.

Reference: Barron’s (March 15, 2025) “You’re Young and Barely Making Ends Meet. Why You May Need a Will”