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Are you too young to think about estate planning? 

On Behalf of | Mar 4, 2022 | Estate Planning

If you’re in your early 20s or 30s, then your thoughts are most likely on plotting exciting journeys and entering the most enjoyable chapters of your life. Estate planning is probably the furthest thing from your mind. 

If this is the case, then you might be making a mistake. Estate planning is not only about planning for incapacitation, it can also provide security to those who you treasure the most. The misconception that it only applies to older people often means that family members go without or end up in lengthy disputes. 

Addressing your estate plan at a young age could give you peace of mind that allows you further enjoy the here and now.  

Looking after your dependants

For many young people, starting a family is the top priority. If you have young children or are planning to, then you do not want them to go without. While the most likely scenario is that you raise them until they reach adulthood, accidents do happen and it is best to be prepared for this. Estate planning tools allow you to make sure that your assets are divided according to your wishes so that your children are relieved from financial hardship. 

Protecting your belongings

You may not yet have acquired that dream mansion or multi-billion dollar company, but that doesn’t mean you don’t have important assets. As an adult, you have probably started to acquire various assets. If you have a first home, a car, jewelry, collectibles, artwork or cryptocurrency, then these are all worth protecting. If you do not state your wishes clearly through estate planning documents, matters could be left in the hands of the courts and the hard work you have put into obtaining assets could be undone. 

Estate planning is not only for the wealthy, elderly people or the afflicted, young and healthy individuals can benefit too. As you contemplate the future, make sure you have considered all of your legal options

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