You’re young, and you don’t have much in the way of assets. When you see people talk about an estate plan, you think that what they’re worried about really doesn’t apply to you.
The truth is that people of all ages can benefit from having an estate plan. This plan doesn’t just determine how you distribute your assets. It also allows you to set up who you want to have as a health care proxy or guardian should the need arise. If you have children, you can establish who you’d like to take care of them if you no longer are able to do so yourself.
In the most basic estate plans, you’ll set up a will. However, there are additional legal documents that may benefit you. That’s why it’s smart to start discussing the idea of an estate plan with your attorney as soon as you can. At a minimum, you want to have some control over your health-care needs, financial situation and what you want to see happen to any assets you do have if you pass away.
You might think that you’re too young to start estate planning, but people as young as in their 20s or late teens do so. It’s always a good idea to get started, because you can always adjust your plan and add to it as you age. Our website has more information on estate plans, so you can learn more about them, the documents that they include and why you may want to get started on yours now rather than waiting. Educating yourself on estate plans is a great step toward deciding when to begin.