As a young person graduating from college, just starting your career, or moving out on your own for the first time, estate planning can be the last thing you want to consider. In a big time of change, it can be hard to navigate “growing up” while staying afloat.
Here’s the thing – while you may think it’s “too early” to create your estate plan, we don’t know what will happen to us in the future. As someone starting to grow their personal assets, looking to take that next step with someone special, or even start a family, you must ensure that what you’ve worked so hard for is set up for success.
We’ve compiled 3 reasons why it’s not too early to create your estate plan below.
An estate plan allows you to maintain control over the distribution of your assets if you die.
A good estate plan will allow you to name someone to make decisions on your estate when you die or can no longer act for yourself. Without one, if something happens to you, your assets may have to go through probate – which can be an emotional & painful process for living family members. Not only do you get to control where your assets go, you can help save your family extra heartache during an already difficult time.
An estate plan allows you to protect your future – whether that’s career growth, starting a family, or something else.
As you progress in your career, grow your family & more, a strong estate plan will allow for protection for what matters to you, should the unthinkable happen. Different types of estate plans can help protect your business, family members – and even your beloved pets! By setting up your estate plan now, you’ll have a strong foundation for your future self to build on, making updates periodically as you experience various major life events.
Estate planning is a key part of “growing up”.
Did you know that 27% of 18-34 year olds now have wills? While this number may initially seem low, it has actually almost doubled in the last two years. We expect this number to continue to increase as young adults learn the importance of planning for their future. It doesn’t matter how many assets you have – estate planning is crucial in protecting your hard work.
An experienced estate planning lawyer can work with you to create an estate plan customized to your needs, financial affairs and family situation. Putting your wishes in writing will help make certain that your affairs are in order for now and in the future. Contact your team at Ozarks Legacy Law to get started.
