Why your age has nothing to with whether you need an estate plan

On Behalf of | May 10, 2022 | Estate Planning

Some people choose to go through life believing themselves too young to worry about estate planning.

This is a mistake for many reasons, three of which you can read about here.

1. Makes matters run smoothly after your death

If you pass away without a will and other estate planning documents, it means you have died intestate. The laws of California will then determine what to do with your assets. If you have no close family members able to represent you, the court can appoint a public trustee to disperse your property and belongings. This could mean that a stranger determines what happens to your home and possessions.

2. Ensures your medical and financial decisions in accordance with your wishes

Estate planning entails more than wills. They often also include durable powers of attorney which enable you to appoint the person of your choosing to make medical and financial decisions for you if you become incapacitated. They can also contain a medical directive outlining your wishes for the type of treatment you do or do not want in the event you cannot decide for yourself.

3. Protects your children’s well-being

If you have children you obviously want the best for them. Untimely deaths have taken many parents from their kids, so no one is immune to needing an estate plan naming guardians for minors when their parents can no longer care for them.

Though no one wants to their of their own death, estate planning can help everyone plan for the care of their children and assets.