Two common misconceptions when it comes to Estate Planning are: “I am young so I don’t need it” and “I don’t need an Estate Plan because I don’t have a lot of assets.” These two comments could not be farther from the truth. Estate Planning is for everyone!
Estate Planning is simply the process where you decide who you want to receive your assets when you pass away, who you want to distribute your assets when you pass away, and who you want to help you with financial and medical decisions while you are alive.
There is no age limit required to make these decisions legal. In fact, anyone over the age of 18 should have these documents. Most people don’t realize that once you reach the age of 18, your loved ones cannot make decisions for you without a legal document permitting them to or a guardianship through the court. When you have your Estate Plan in order, you have the ability to choose who will provide help and that person or people can help you without dealing with a court every time they need to make a decision.
Estate Planning is not always about the monetary value of what you have but about who you want to get the things that mean something to you. It doesn’t matter how many assets you have or what they are, the focus of Estate Planning is to make sure your wishes are legally binding so the things that matter to you can be given to the people, pets, or organizations you care about. Also, no matter what amount is in your bank account, if you need some help while you are alive, you need legal documents that designate who will make those decisions.
It is never too early to get your affairs in order. We are glad to assist with your Will, Trust, Durable Power of Attorney, Health Care Surrogate, Living Will and anything else you need.
Contact our office today at 407-574-8125 to schedule an appointment with an attorney and make your wishes legal.
This post contributed by Erica Berger-Hausthor, Attorney, Family First Firm.