Do Clients in their 20’s and 30’s Need an Estate Plan?

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As an attorney with young children, I am constantly concerned with the number of parents who have not properly planned. Everyone needs an estate plan. Planning ahead is not just for those in their 50’s and 60’s. Accidents and illnesses can happen to anyone. The reason I started my estate planning practice was in response to my 35 year old friend that passed away. He had a 2 year old child and a wife who he left behind. Tragedies can occur at any age.

Am I Too Young to Have an Estate Plan?

Many times, young parents have even more at stake many times than older parents with adult children. Who will be the caregiver to their children? Who will manage the money that is left for the care of the children? Who pays for the burial? What happens to social media accounts? Who is in charge of closing bank accounts?

If the parent doesn’t die, but instead is hospitalized, who will make medical decisions if they cannot? What are your wishes should you be in a vegetative state? In Missouri, a spouse does not automatically get to make these decisions. A court does not make these decisions. The choice of care for oneself is personal in nature, and HAS to be directed by the individual. No one else can make those decisions. A well-drafted plan can cover these issues.

Most parents take more time lining up a babysitter for an evening out than they do planning for what will happen should they become incapacitated or die. It is vitally important to address these issues early. No one likes to think about death or long term hospitalization. These are difficult conversations to have, but properly planning with the right attorney can take the guess work away, and can provide peace of mind for you and your family.

Speak to an Experienced St. Charles Trust and Estate Planning Attorney

Polaris Law Group takes pride in offering an effective, full-service experience to our clients. If you want to ensure that you and your family are properly cared for, contact Polaris Law Group’s experienced trust and estate attorneys, Scott Stork and Raymond Chandler today. Scott and Raymond are seasoned estate planning attorneys and are members of the National Network of Estate Planning Attorneys, the National Academy of Elder Law Attorneys, and Elder Counsel. Schedule a meeting by phone or by filling out a quick contact form today.

 

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