Do young adults need a will?

Young adults may have savings, online accounts, personal property, and preferences about who should manage their affairs. In the estate planning context, a will can name beneficiaries, appoint an executor, and state who should receive property that does not pass by contract or joint ownership. A will can also record guardianship wishes for minor children. Keep copies with the rest of your important records, and make sure the right people know where to find them.