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NC and SC Estate Planning and Elder Law Firm

Monday, August 24, 2020

Why You Can Never Be Too Young to Estate Plan

When you hear people talking about estate planning, you may associate it with your parents or your grandparents. You may think about it as something that wealthy individuals do to protect their assets and figure out where their money will go after they die. Estate planning is about so much more though. In fact, the issues addressed and the protections put in place by a comprehensive estate plan are important for everyone. They are important for the young and the old, the financially affluent and those low on funds. Here, we will take a moment to explain why you can never be too young to estate plan.

Why You Can Never Be Too Young to Estate Plan

First and foremost, it is important to address the fact that you can never be too young to estate plan for the simple reason that life is unpredictable. Injury and illness is not exclusive to those who are older or who may already have health concerns. Unexpected accidents occur. Unplanned for illnesses arise. Because of this, we are all at risk of being placed in a difficult position where we may be unable to communicate our wishes, particularly those relating to health care.

When you are estate planning, you can put advance healthcare directives in place that will memorialize your wishes so that they can be honored even in the event that you become incapacitated and are unable to communicate them for yourself. Advance healthcare directives include a living will. A living will allows you to detail your healthcare treatment wishes, especially those pertaining to end-of-life care. It is a legal document allowing you to outline what treatment you wish to receive and not receive under critical circumstances. A living will can be as detailed as you wish. Even the most detailed living wills, however, cannot cover every possible healthcare treatment scenario. This is one reason it is also good to include a healthcare power of attorney, another type of advance directive. A healthcare power of attorney grants another person you have selected to be empowered to make healthcare decisions on your behalf should you become incapacitated. It allows you to choose someone you trust and can depend on to honor your wishes even in the toughest of circumstances.

Additionally, an estate plan allows you to name a guardian who would be charged with taking care of your children should anything happen to you and the other parent. Think about how significant this can be. While you cannot control the future, you can name a guardian, someone you know and trust to raise your children should you be unable to do so. While this obviously is an emotionally charged issue to face, it can also bring you a great deal of peace of mind knowing that your children will remain well cared for even under difficult circumstances.

Estate planning is also important for everyone, regardless of age or wealth, because it is not just about how you would want assets of great financial value to be distributed. Most of us have some personal items that hold infinite sentimental value. These are irreplaceable items with unique meaning to us. If you have someone in mind who you would want to see receive these types of items after you pass away, an estate plan is the way to accomplish this.

Estate Planning Attorney

The takeaway from all of this should be that estate planning is important for everyone. Now is the time to put a comprehensive estate plan in place to protect your future and that of your loved ones. Monk Law is here to do just that. 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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