When people think of estate planning, they imagine a wealthy aristocrat planning to dole out their millions later in life. However, according to attorneys at The Law Offices of Katzman, Logan, Halper and Bennett, LPA in Cincinnati, OH, that’s only a stereotype. Estate planning is something everyone should consider, and you’re never too young (or too old) to start exploring options.
Taking advantage of your youth and convenience can avoid unnecessary stress as you age. Here are three reasons to consider estate planning at any age:
The whole point of estate planning is to ensure your assets are distributed as you want when you pass. While that hopefully won’t be anytime soon, if you’re young with a family and spouse, it’s a great time to begin laying out how you want possessions passed down. Having everything in order, in the beginning, will make it easy to adjust as you age and ensure things are handled the way you want, should the worst happen unexpectedly.
Whether through inheritance, luck, or business ventures, if you’ve built a large portfolio of physical assets, it’s a good idea to plan out where they’ll go when you’re gone. Real estate, significant investments, or items of extreme value are things you’ll want to go to family members or friends, and estate planning is the way to ensure it happens. If not handled correctly, an untimely death could mean they go elsewhere, so it never hurts to plan ahead.
Unforeseen tragedies can occur at any time, which can leave you disabled or incapacitated. If this happens, you’ll want to ensure you receive the care you want, and estate planning is a great way to establish this. You can regulate guardianship, health care options, and responsibilities to individuals of your choosing. This “game plan” will make things legally binding so that the government and outside parties can’t make decisions on your behalf should an accident occur.
Remember your never too young or old to start planning, and attorneys at The Law Offices of Katzman, Logan, Halper and Bennett, LPA can help. They’ll work with you on a personal level to get your estate in order and handle the legal necessities to ensure you’re covered. Call (513) 793-4400 to schedule a consultation, and visit the website and Facebook page to learn more about their personal injury and wrongful death services.