If you’re a young adult, one thing that you probably don’t think about very frequently — if at all — is estate planning. After all, it might seem as if estate planning is only for older people. However, you are really never too young to start estate planning. These are a couple of reasons why.
You Never Know What Could Happen…or When
If you’re young, you probably assume that you have many years ahead of you to worry about things like wills. Hopefully, that’s true. However, accidents happen, illnesses strike when people least expect them, and young people do pass away. If you were to pass away right now, would your spouse, kids or other loved ones have what they need to take care of themselves? Would your family know what to do with your assets? Would your loved ones be aware of your final wishes, such as your desire to be cremated or buried? Estate planning helps ensure that your loved ones will be able to handle the situation in the best way possible if something does happen to you unexpectedly.
Some Things are Cheaper When You’re Younger
The truth is that you can save money by estate planning when you’re young rather than waiting until you’re older. For example, if you don’t have a life insurance policy in place, you may want to look into your options while tackling this planning. In many cases, you can enjoy lower rates if you buy life insurance while you’re still young and healthy rather than waiting until you’re older, when you might have more health issues.
As you can see, it’s not too soon to start estate planning. If you need help in getting started, contact us so that we can sit down and talk to you about your options.