Think You're Too Young for a Will? Think Again.

Waiting too long to create will can lead to loss of control over your legacy and your family's well-being.

We get it. When you're juggling a career, maybe starting a family, and finally feeling like you're hitting your stride, the thought of drafting a will probably sits somewhere on your to-do list below "organize the Tupperware drawer" and "finally figure out that weird noise the car is making." It feels… final. Something for "older" people. Something for those with sprawling estates.

But here's a crucial reality check: age is not a prerequisite for needing an estate plan. In fact, if you're in your 30s or 40s, especially with children, creating a will and considering other estate planning documents is arguably more vital than ever before.

Dispelling the "Too Young" Myth:

The misconception that estate planning is only for the wealthy or the elderly is dangerously inaccurate. It stems from a misunderstanding of what a will truly does. It's not just about distributing vast fortunes; it's about ensuring your wishes are respected and your loved ones are protected, no matter the size of your estate.

Life in Your 30s and 40s: The Stakes Are Higher Than You Think

Consider this:

• You're Building a Life: You might own a home, have savings accounts, investments, or even valuable personal belongings. A will directs how these assets are distributed according to your wishes, not the state's default rules, which may not align with your intentions.

• You Might Have Little Ones: This is perhaps the most compelling reason for younger individuals to have a will. If you have children, your will is the primary place where you can nominate a guardian to care for them if something unexpected happens to you and their other parent. Without a will, the decision of who raises your children falls to the courts, a process that can be emotionally taxing and may not result in the outcome you would have chosen.

• Protecting Your Partner: Even if you're married, dying without a will (intestate) can create unnecessary legal hurdles and emotional distress for your surviving spouse. State laws dictate how your assets are divided, and this might not fully reflect your desire to provide for your partner. A will ensures your spouse receives the assets you intend for them, simplifying a difficult time.

• Avoiding Unnecessary Stress and Expense: Dying without a will can lead to a lengthy and costly probate process. Your loved ones will have to navigate the legal system to settle your affairs, which can be time-consuming, expensive, and emotionally draining, especially while grieving. A well-drafted will can streamline this process, saving your family considerable stress and financial burden.

• Expressing Your Specific Wishes: Beyond assets and guardianship, a will allows you to express other important wishes, such as who you don't want to receive certain items or even preferences regarding your funeral arrangements.

  
  

Estate Planning Isn't Just About Death:

While a will is a cornerstone of estate planning, it's also important to consider other documents relevant to your 30s and 40s, such as:

• Healthcare Power of Attorney: This document designates someone you trust to make medical decisions on your behalf if you become unable to do so.

• Financial Power of Attorney: This allows someone you trust to manage your financial affairs if you become incapacitated.

These documents ensure your well-being and financial security are protected, even during your lifetime.

Don't Wait for "Someday": Take Action Now

The truth is, none of us know what the future holds. Accidents happen, and unexpected illnesses can occur at any age. Putting off estate planning because you think you have "plenty of time" is a gamble with the well-being of your loved ones.

Taking the steps to create a will and other necessary estate planning documents is an act of love and responsibility. It provides peace of mind knowing you've taken proactive measures to protect your family and ensure your wishes are honored.

The process doesn't have to be daunting. Consult with an estate planning attorney to discuss your specific circumstances and create a plan that meets your needs. Many attorneys offer no cost first consultations that can set you on the path to peace of mind. It's an investment in your family's future that is far more valuable than you might realize, no matter your age. Don't wait until it's too late – take control and plan for tomorrow, today.

Disclaimer:

Nothing in this article should be considered legal advice and no attorney-client relationship is formed from accessing this website or reading this post. Please consult with an attorney to discuss your specific needs and circumstances.