If you’re a young professional, you may feel like your life is just beginning. While this may be true, it’s important to have an estate plan in place so that you’re prepared for emergencies and life’s events. Remember, your life can change in a matter of seconds. With the help of an estate plan, you will be protected now and in the future. Below are some of the reasons why an estate plan can be helpful.
- An estate plan call allow you to choose how your assets will be passed after your death. As a young professional, you likely do not have a large accumulation of assets, you need to have a plan in place for the distribution of your assets. This will allow your personal wishes to be followed. Without a proper plan, your assets may be given to the wrong people pursuant to state law.
- An estate plan can allow you to plan for medical emergencies. Unfortunately, medical emergencies often happen when we’re least expecting it. Taking the time to plan for these emergencies can make a difference in the future. In your estate plan you’re able to outline your wishes for certain medical procedures as well as nominate someone who will be responsible for making sure that your healthcare wishes are followed.
- An estate plan can allow you to name a guardian for your children. You want to make sure that your children are always loved and cared for even if tragedy strikes. Taking the time to choose a responsible and loving guardian is a huge responsibility and an important aspect of estate planning.
- An estate plan can allow you to plan for the care of your pets. If you don’t yet have children, you probably have a furry friend who you love greatly. You want to make sure that your pet is cared for even after your death and not euthanized or kept in a cage at a shelter.
If you are a young professional in need of an estate plan, consult with an estate planning attorney today.