Our Utah estate planning attorneys get a lot of questions about things related to estate planning. Do I need a will? Do young families need an estate plan? What age should you start estate planning? We have answered all of these questions many times. But today, we will focus on the last one.
What Age Should You Start Estate Planning – Right Now!
It’s normal to think that estate planning is something for older people. After all, who else has an “estate”? But the reality is, the right time to start estate planning is almost always right now. If you are old enough to have an estate plan – 18 years or older – you should probably have one.
Young people are waking up to the need for an estate plan. If you are on the fence, we think you should come on over to the side with estate plans. Here’s why:
1. An estate plan lets you direct what happens to your assets.
Assets? What assets? This is the answer we often hear from younger people. We totally understand. If you are living paycheck to paycheck, you don’t feel like you have much to your name. And you may not. But whatever you do have, you can direct who will get it with a will. You can decide who will make healthcare decisions for you with an advanced directive. You can decide what will happen with your body – like cremation, natural burial, and so on.
Everyone should be able to decide what happens with their possessions and their body after they pass away. This is true at any age. An estate plan lets you do just that.
2. You can probably afford the estate plan you need.
Hiring a lawyer is expensive, right? Not necessarily. We price our estate planning services based on how much work they require. For a young person who just needs a will, we are quite affordable. For someone with lots of assets and in need of a complex estate plan, we charge more. But someone with plenty of assets can usually afford more expensive estate planning services.
3. We can adapt your estate plan as circumstances change.
Life brings changes all of the time. Your situation now will likely be different from your situation in 10 years. One great thing about estate plans is that they can adapt to your current needs. Just let us know when something significant changes – like you get married, have children, and so on – and we can make changes. Our goal is to make sure your current estate plan is always the right estate plan for your needs.
Estate Plan Questions? Get Answers Here
The best way for us to tell you what kind of estate plan you need is to speak to you. We can ask you the questions that will tell us exactly how to help.
If you are considering an estate plan, please get in touch. Give us a call or text at (801) 521-4145 or complete our online contact form for a free consultation. Let us help you determine the perfect estate plan for your current situation and your future goals.