At What Age Should You Do Estate Planning?
Most estate planning attorneys would agree that the best age for you to do estate planning is whatever age you are right now. That is to say, it’s never too soon or too late to start creating an estate plan.
Young, single people often think they don’t need an estate plan because they don’t have too many assets. But having an estate plan in place could help parents or a sibling pay for funeral expenses, gain access to financial accounts, and know what to do with personal belongings.
Alternatively, some people find themselves married with children, grandchildren, and significant assets, but with no estate plan in place. They may have been putting it off, waiting for the perfect time. Those people should definitely create an estate plan sooner rather than later.
Ideally, you should but a basic estate plan in place when you reach adulthood. Then, you can amend and add to the plan as you get older, have children, buy a home, etc. The best estate plan is one that changes as your circumstances change.
