A client was telling us a story recently about how he and his wife took it upon themselves to dispel an estate planning myth while they were at dinner one night with some friends. As the story goes, the wife shared that they’d made a few changes to their family Trust to tie up a few loose ends, and amid the excitement, she couldn’t help but notice that the other couple looked a bit confused.
“Is there something wrong?” she said.
“No. It’s just that … well, you seem awfully young to be worried about estate planning,” their friends said.
Full disclosure: my client and her husband are in their early 40s. As he said, “We’re definitely not old, but we’re not young, either.”
As they continued to talk, my clients admitted that having an estate plan in place was the best decision they ever made. They never once fell for the estate planning myth of, “I’m too young for estate planning.” In fact, they said that if they had to do it all over again, they would have sought out an estate planning attorney much earlier in life — possibly as early as their 20s.
Moral of the Story: You Are Never Too Young for Estate Planning
Contrary to what you might think, estate planning isn’t only for older adults.
It also isn’t only for super-wealthy individuals with eight cars, a mansion in Florida, and millions of dollars in their Swiss bank accounts.
Sure, many of our clients at Caitlyn Ashley Law are wealthy. Even more have grown kids, grandkids, and a lengthy list of important assets and precious family heirlooms. But I promise there are just as many in their 20s and 30s. We have clients who are newlyweds with no kids, others who are single adults in their 40s, and older adults with modest incomes and a lengthy list of wishes they’d like to get on paper before they are no longer around to share them.
They couldn’t be more different. But they all have one thing in common:
None of them knows when they will pass away or be placed in a position where they can’t make important decisions for themselves.
Estate planning is the legal act of putting your affairs in order to ensure your wishes are carried out, your family is protected, and wealth, wisdom, and assets are passed on as efficiently as possible after you die or become incapacitated. Having an estate planning attorney help you look at the big picture and guarantee that your plan always works in your favor is critically important.
Just a few of the documents we offer include:
• Wills
• Trusts
• Power of Attorney (medical, financial, durable, etc.)
• Burial directives
• Advanced healthcare directives
• Medical authorizations
• Deeds for real property
Having a plan for the future is the most important gift you can give yourself and your family. And it’s never too early to start.
Call Caitlyn Ashley Law Today!!
None of us will know what is around every corner in life. And just thinking about the what-ifs — what if I were to die or become incapacitated tomorrow; what if my child with special needs has no one to care for her; what if all my “stuff” isn’t passed onto the right people — can be overwhelming. But having a plan that accounts for your family’s unique circumstances, puts your affairs in order, has concrete solutions to your concerns, lays out your wishes and goals, and protects your family’s future provides peace of mind for the road ahead.
Caitlyn Ashley Law in Denton, Texas, will counsel you on which documents best suit your needs and ensure they are flexible enough to meet your changing needs for years to come.