Estate planning steps like writing a will might not be top of your list of priorities when you are focused on your playing career. You may think of these tasks as something to sort out when you are older, and you would not be alone.
In 2025, Today’s Wills and Probate reported that 58% of UK adults did not have a will.
Unfortunately, neglecting important estate planning decisions could expose you and your family to unnecessary risk, particularly as playing professional rugby increases your chances of serious injury.
That is why it is never too early to start estate planning, even if you are in your 20s and 30s. Read on to learn why it is so important, and some of the key steps you may want to take.
You could face serious illness or injury at any stage of life
It is easy to put off estate planning when you are young because you assume that it will be a long while before documents such as a will are necessary.
However, the harsh reality is that you could face serious, and potentially fatal, illness or injury at any stage of life. As a professional rugby player, your risk of injury could be greater than the average person.
If you were to pass away unexpectedly or sustain an injury that affected your mental capacity, it is important that you have a will in place. Without one, the courts will normally decide how your estate is divided, and this might not align with your wishes.
Similarly, if you are injured and lose mental capacity, you need somebody to make decisions about your care and financial affairs. Again, unless you have nominated somebody yourself, the courts will appoint somebody, and this may not be the person you would have chosen.
Ultimately, neglecting your estate plan could mean that you do not have control over important decisions about your finances or medical care should something happen to you.
In your 20s and 30s, your family and financial responsibilities may grow
Although you are still young, your circumstances may change significantly throughout your 20s and 30s, meaning that estate planning becomes more important.
For example, you might:
- Purchase your first home
- Get married
- Start a family
- Progress in your playing career and increase your earnings.
This means that it is not only yourself you need to worry about now that you have increased family and financial responsibilities. So, should something happen to you, it is important that everything is in place for your loved ones.
You must be considered mentally capable to complete certain estate planning tasks
Many of us tell ourselves that we will get around to estate planning later, when we have more time or when it is more urgent. But, in some cases, you could miss opportunities to complete certain estate planning tasks if you wait too long.
This is because you need to be considered mentally capable to create a will or nominate an attorney to look after your affairs. As such, if you are injured or fall ill and lose mental capacity before completing these tasks, it is too late.
That is why it is never too early to start estate planning. Knowing that everything is arranged will give you peace of mind that your wishes will be fulfilled and your family looked after.
3 crucial estate planning steps you may want to take
1. Create a will
Your will is the bedrock of your estate plan. It outlines exactly what you want to happen to your estate when you pass away.
If you do not have a will in place already, consider creating one.
Even if your plans are very straightforward, like leaving everything to a partner or spouse, you still need to set them out in a will. Otherwise, the courts might divide your estate differently.
As your circumstances change throughout life, you might want to review and update your will accordingly.
2. Create Lasting Powers of Attorney
Lasting Powers of Attorney (LPAs) are documents that allow you to nominate one or more attorneys to handle your affairs if you cannot do so yourself.
There are two main types of LPA:
- Health and welfare, which allows you to choose attorneys to make decisions about your medical care and general living situation.
- Property and financial affairs, which nominates attorneys to take over control of your finances and make decisions on your behalf.
It is important that you have both documents in place and have chosen trusted attorneys, so your estate is looked after if you lose mental capacity due to illness or injury.
3. Have a discussion with your loved ones
Talking about the possibility of being seriously injured or passing away is never nice, but having frank conversations with your loved ones is important.
You can explain your wishes to them and let them know where your will and LPAs are kept. That way, if something were to happen, your loved ones could deal with everything efficiently and reduce the administrative burden, which only adds more stress during a difficult time.
Get in touch
If you need support with your estate plan, DBL Asset Management is here to help.
Email enquiries@dbl-am.com or call 01625 529 499 to speak to us today.
Please note
This article is for general information only and does not constitute advice. The information is aimed at individuals only.
All information is correct at the time of writing and is subject to change in the future.
The Financial Conduct Authority does not regulate Wills or estate planning.