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Monday, March 23, 2020

Why You Are Never Too Young to Estate Plan

Estate planning involves putting important tools and legal protections in place related to your end of life wishes as well as others associated with ensuring your healthcare decisions are respected and your financial well being is protected. This does not mean that estate planning is only for those individuals who are older or who may be in poor health. Estate planning is important for everyone regardless of age or health status.

Why You Are Never Too Young to Estate Plan

You are never too young to estate plan, first and foremost, because the unexpected can always happen. Accidents happen. Sudden illnesses happen. Estate planning is a way to plan for the unplanned. Should you unexpectedly pass away or fall ill and become incapacitated, your estate plan will help ensure that your wishes are honored. It will provide your family with critical information regarding the making of important decisions related to your healthcare and end of life wishes.

An estate plan will ensure your assets are properly distributed to who you want them to go to. Many young people may dismiss this by claiming they really have nothing of value. Think beyond those assets that have monetary value and think about those assets with sentimental value. If you want an item that you hold important not because of its monetary value, but because it is personally important to you, and you would want it to go to a specific person, you can specify this in your will.

Estate planning also allows you to designate a guardian for your minor children. You can designate a trusted individual to care for your kids should something happen to you. This is a huge benefit of estate planning. Having the ability to know that, should you be unable to care for your kids, someone who will provide them with a loving, support environment will be there for them will provide you with great peace of mind.

You can also plan for things that few young, healthy people plan for, and that is incapacity. However, not all serious accidents and illnesses prove fatal. Some may leave a person incapacitated and unable to communicate his or her own wishes. Should this happen, there are several estate planning documents that can come into play. You can designate a health care power of attorney who will make health care decisions on your behalf. You can designate a financial power of attorney, who will manage your finances should you be unable to do so. You can create a living will that can outline important choices such as what end of life care you would wish to receive.

Estate Planning Attorney

No one wants to think of unplanned for tragedies occurring, but that does not mean that they don’t happen. It does not mean that you should not do everything you can to protect yourself, your family, and your loved ones should something happen to you. Put a comprehensive estate plan in place now. You are never too young. Contact Monk Law today.


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Monk Law Firm, PLLC assists clients throughout Charlotte, Rock Hill, Fort Mill and the surrounding areas.



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| Phone: 803-594-4453
6000 Fairview Road, Suite 1200, Charlotte, NC 28210
| Phone: 704-369-9977

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