Young people tend to feel like they have a lot of years in front of them, which is most likely the case. However, the truth is that you never know what’s around the corner.
Estate planning offers individuals the chance to make arrangements should they become incapacitated. You may think that you’re too young to think about all of this, but is that really the case?
Protecting your assets
While you may be young, this doesn’t mean you don’t have any assets that aren’t worth protecting. Perhaps you own your home? Or, maybe you have a family heirloom that is very sentimental?
In any case, having a will and other estate planning documents is the only way you can ensure they end up in the right hands should something happen to you.
Addressing your healthcare needs
If you have specific requests regarding your healthcare, such as what sort of treatment you should and should not receive, this is something that can be dealt with in your estate plan. By nominating a trusted healthcare proxy, you can be confident that your healthcare needs will be met should you become incapacitated.
Choosing a guardian for your children
Estate planning is not only about assets and wealth. In your will, you can appoint a guardian who can look after your young children should something happen to you. You can nominate someone who you trust, has a bond with the child and shares your core ethics regarding their upbringing.
If you’re 18 or above, then an estate plan can do numerous things for you. When moving forward with your plan, be sure to have legal guidance on your side.