Estate plans are not just for the elderly

The general public often thinks that estate planning is only for the elderly or those with life-threatening illnesses.

The truth is that it’s never too early to start an estate plan. Whether you are married or not, preparing for the future is always a good idea. Making an estate plan now is the first step in securing your loved ones’ future in case of the unexpected.

Reasons to create an estate plan when you’re young

You will find that creating your estate plan today will simplify things in the future. Here are some things you can achieve:

1. The most important decisions are yours to make. Instead of having a court make that decision for you, you can specify in your will how your spouse and children would benefit from the inheritance.
2. You can feel a little bit more at ease knowing that your healthcare directives are in place in case you become unexpectedly disabled. This relieves your loved ones of the strain of making tough choices.
3. Nominating a guardian or guardians you know and trust will let you rest easy knowing your kids will be well cared for if you die.
4. You could create a digital asset inventory for your family. They can access your bank accounts, online investments, and social media profiles in an emergency. If not, they wouldn’t be able to locate this information on their own.
5. Making arrangements for your funeral, including the payment of the service, is a crucial part of estate planning that relieves a great deal of stress from your remaining family members.

Making an estate plan while young doesn’t mean you’re bound to it forever. With assistance, you may modify your strategy to account for changes in your life as they happen. Call or contact us for your free initial consultation.