To the young, estate planning seems like a negative experience revolving only around death. Although it allows you to address end-of-life matters, estate planning can add confidence and security during your life as well.
During past eras, young adults rarely considered creating an estate plan. Many now realize how putting a plan in place gives them peace of mind. Let’s look at just a few ways an estate plan can benefit a person who’s far from their senior years.
Control over medical care
Health concerns affect everyone, regardless of age or condition. Advance health care directives allows people to retain control of their medical treatment and care if they’re ever unable to speak for themselves. Should a severe injury or illness arise, these directives indicate the life-prolonging measures and possibly other treatments you want and those you don’t want.
Digital assets and property
Those born 20 or 30 years ago grew up with digital technology and are typically tech savvy. Some of them have acquired digital assets, potentially resulting in substantial wealth now or in the future. Estate planning can help ensure the protection of digital assets and help you pass them on to future generations.
Protecting your new family
After having children, you want to do all you can to make their lives easy and protect them from hardships. Estate planning empowers you to provide for their needs financially. It also allows you to choose a guardian for your kids in case an illness or injury leaves them without you and your co-parent.
It is never too early to protect your health, your assets and your family. Consider learning more about the essential estate planning documents that can benefit you and your loved ones.
