Now that you’re in your 30s, it may be a good time to start talking about estate planning. While you don’t plan on becoming incapacitated or dying any time soon, it’s still important for you to start planning for the future.
In your 30s, you may start to have some significant assets as well as people whom you want to protect. That’s why estate planning can be so valuable at this point in your life. Some of the things that your estate plan may need to cover include:
· Guardianship designations, in case you pass away or are incapacitated when you have minor children
· Your health care wishes, as well as the establishment of a health care proxy, so you have someone who can speak on your behalf if you can’t make medical decisions for yourself
· Creating a will so that your family doesn’t have to rely on the state to determine how to divide your assets upon your death
· Establishing a power of attorney so there is someone available to take care of your financial matters if you are incapacitated
What many people fail to realize is how important estate plans can be to people who are still alive. If you get hurt or are injured in a way where you can’t take care of yourself or make your own decisions, then your estate plan will come into play and give power to those you’ve appointed to help.
You may be new to estate planning, but don’t stress. Your attorney can help you come up with the right one for your situation so that you and your loved ones are protected.