“Too Young” Is a Myth
While it’s common for many people today to typically associate estate planning, wills, and trusts with older individuals or people with life-threatening conditions, those same people may be surprised to learn that estate planning is not just for those groups. In fact, many financial planners recommend that people consider putting together an estate plan as soon as they are an adult. Here are several reasons why age truly doesn’t matter when it comes to estate planning.
Uncertainty of Tomorrow
No one knows what will happen tomorrow, and even then we are not guaranteed today. Life has uncertainty surrounding it, and because of this uncertainty, it’s good practice to have a plan in place in the event that the unexpected occurs. Even at what many would consider to be a young age, the fact that no one can guarantee themselves another day should be motivation to ensure that a person’s loved ones are protected.
Decision-Making If the Unexpected Occurs
Part of an estate plan is assigning a power of attorney, both durable and medical. Whoever is designated this power is given the responsibility of making decisions on behalf of the person who created the estate plan in the event that they become incapacitated and are unable to make decisions on their own. While no one wants to assume something like this may occur, having an estate plan in place offers you protection if something happens and you are unable to make decisions for yourself.
Protection and Peace of Mind for Loved Ones
While an estate plan certainly provides you with benefits, perhaps no one is better protected than your loved ones that are named beneficiaries. Because the unexpected can happen even to younger people, having an estate plan in place ensures that your young family is taken care of if something happens. Knowing that they are protected provides them with peace of mind; if something were to happen, they know that they will be okay.
Ready to Begin?
Estate planning can be a complicated process that involves a variety of different considerations. It’s important to work with an estate planning attorney who can help you craft a plan that meets your unique needs. At Levine Law Center LLC, our team is ready to help you protect what is most important.
To learn more about estate planning or to get started, call us at (503) 433-8340 or visit us online.