Why Even Young Adults Need Estate Planning

Yes, you read that right!

Just because you are in your twenties or thirties doesn’t mean you are free from worrying about the future. As we accumulate more assets and take on more responsibilities with age – be it a job, a car, a house— it is important to know and assure yourself about what will become of them in the event of your passing. Take preemptive steps and live easier knowing that your wishes will be carried out regardless of your presence.

If you are a young adult and own any beloved pets, collectibles, precious books, sentimental objects, or even if you have only a handful of money to your name, consider securing these possessions through estate planning. The criticalness of planning your estate also notably increases once you start a family and have minor children under your care. Securing their well-being is just about the most important thing you can do for your family in the event of your absence. With estate planning, you can essentially simplify relevant legal processes in the event of your passing by officially clarifying the crucial decisions you want your loved ones to make on your behalf. Estate planning also locks down your plan to distribute your assets according to your desires.

If you’re a young adult you may be thinking, “Why worry now when I’m in relatively good health?” It may be easy to associate estate planning solely with individuals nearing the end of their life, but the unfortunate reality is that anyone can pass on at any time. Automobile accidents, for instance, can affect people of any age. Should you find yourself incapacitated after a collision or serious illness, having estate planning documents in place authorizing trusted individuals to carry out your pre-planned healthcare decisions will help ease the emotional burden make the process as smooth as possible for your loved ones.

Here’s a small peek at what estate planning can accomplish. It can give you the ability to:

-Appoint a trusted individual to manage your estate after your passing.
-Provide detailed instructions on how your assets are to be distributed.
-Name someone to be the guardian of your children.
-Select a trustee to manage the inheritance of any minor children.
-Name an individual to make healthcare and financial decisions for you when you cannot make those decisions for yourself.

Estate planning greatly assists your loved ones in carrying out your wishes as easily as possible when you pass. And creating a Will and other estate planning documents is a lot easier and more practical than you think. Doing so shouldn’t be overlooked, even when you are in your younger, more carefree years. It’s never too soon to start planning for the future and give yourself peace of mind.

For more information on how to create your Will and other estate planning documents, contact the Law Office of Wendi Andino or simply call 682-233-5584.