Estate Planning Isn’t Just For The Elderly

Happy, smiling couple in their sixties.

How can wills help you at any age?

On Behalf of | Sep 13, 2023 | Blog, Estate Planning

In your journey through life, it is important to plan for subsequent years, regardless of your age. One fundamental aspect of this planning is drafting and creating a comprehensive will.

A will is a legal document that outlines how you want others to distribute your assets and possessions after you die.

Protect loved ones

Whether you have just graduated from high school or you are an experienced adult in your career, creating a will is important to make sure your family gets the help and care they need when you are no longer around. It allows you to decide who gets your belongings, giving you and your family a sense of security.

Surprisingly, only about 46% of adults in America have made a plan for what happens to their money and assets after they die. It is important to take some time to consider your future because doing so can relieve a lot of stress for your loved ones down the road.

Choose guardianship for dependents

For those with young children or dependents, a will allows you to designate a guardian. This ensures that someone you trust will care for them if you are unable to do so. Preparing for unforeseen circumstances is a responsible and wise action, regardless of your age.

Describe asset distribution

Even as a young adult, you likely possess assets such as a car, savings or personal belongings. A will lets you decide who receives these assets if something unforeseen happens. By doing so, you maintain control over your hard-earned possessions.

Reflect changing circumstances

Life circumstances can change rapidly. As you grow older, you may acquire more assets, get married, have children or experience other momentous life events. Regularly updating your will ensures that it remains aligned with your wishes and desires no matter what your age is.

Allow peace of mind

Drafting a will while in your youth offers a profound sense of tranquility. This assurance stems from the knowledge that your financial and personal matters are meticulously arranged, granting you the freedom to fully engage with life without the weight of ambiguity concerning your future.

Wills are not just for the elderly or those facing major health issues, since they can benefit people at any point in life. They are valuable tools for individuals of all ages.