Many young families put off estate planning
It is never too early to begin this process. Everyone should have a proper, professionally prepared estate plan.
Many young people don't think they need an estate plan. They think they are too young or don't have enough assets. Yet, the consequences are often more serious for young people who die without an estate plan in place.
- Naming executors or trustees
- Naming a guardian for young children
- Providing instructions for distribution of assets
- Using trusts to hold retirement assets
- Reviewing insurance needs and beneficiary designations
- Planning for a disability
- Handling debt
- Providing for college education, including Section 529 Plans