You’re young and still feel like you have the rest of your life ahead of you. The reality is that you probably do. So, why would you need to think about an estate plan?
The truth is that all adults should consider estate planning as soon as they can. As a young adult, here are a few reasons why you may want to think about this.
Are you a new parent?
You and your partner have just had your first child. It’s been a little overwhelming, but you’re very excited about the future. There’s a common misconception that it’s morbid for new parents to think about estate planning, but this is simply not true. What would happen to your child if something happened to you and your partner? Who would take care of them both physically and financially? You can answer these questions in full with a will and other estate planning documents.
Do you have assets?
You may not have built the business empire of your dreams yet, but you still have assets that are worth protecting. Have you newly purchased your first home? Maybe you have a car? Perhaps there are items in your possession that have been passed down through the generations. Just because your estate is not worth millions, that doesn’t mean it’s less important than anyone else’s.
Many individuals, particularly younger people, are hesitant about estate planning. This is often because they have not been informed about the process. Seeking legal guidance will help to put your mind at ease and ensure you take the appropriate steps.