You are Never Too Old or Too Young to Plan for Your Estate
I personally fall into the category of young professionals with young children. I find it is common among my peers that we are not yet focused on an estate plan. We may take out a life insurance policy and faithfully contribute to our 401Ks, but there is a great deal more than life insurance and retirement savings that needs our attention.
Young professionals often ask when the right time is to do their estate planning. Without fail, at any age, my answer is always “now”.
If you answer yes to any of the following questions, it may be time to talk about your estate plan:
- Do you have assets and liabilities? Let’s chat about how liabilities are satisfied and how your assets transfer to your beneficiaries.
- Do you have children? Do you know who you prefer to care for them if you are unable to do so? Do you know who will manage their inheritance on their behalf?
- Do you own a business? Do you have business partners? Whether you wish for your business to continue on without you or wind down after your passing, you need a plan to make that happen. This is especially true if you have business partners.
- Are you married? Have you been married? Are you in a blended family? Let’s chat about how you want to provide for your spouse, children, and stepchildren after your passing.
- Do you have a pet for which you would like to provide?
- Do you have other family members who you would also like to receive some type of benefit?
- Would you like to leave anything to a charity or organization that is important to you?
- Do you own a home? Do you own other real estate? Do you own real estate in more than one state?
- Do you want to help your family avoid probate at the time of your death?
Of course, there are plenty more reasons one should work out their estate plan, but if you answered “yes” to any of these questions and you have not made a plan or updated your plan after a change in circumstances, consider giving me a call at 850-769-3434 so we can discuss considerations for your next steps.
Probate and estates are a primary focus of my practice, and I enjoy helping individuals plan for their future while making things as seamless as possible for their family, their heirs, and those who are most important to them.
You are not too young or too old to do your estate planning. Please reach out if I can be of any assistance with you or your family’s estate planning or probate needs.