Why Every Adult in Your Family Needs an Estate Plan
When you hear “estate planning,” many people immediately think of parents with young kids or aging grandparents. But the truth is, every adult in your family needs a plan, regardless of age, marital status, or whether they have children.
Without a legal plan in place, medical and financial decisions are left to state law. That means someone else (possibly the courts) will decide who gets to act on your behalf. This can lead to delays, stress, and even family conflict.
Why This Matters for Every Household
Imagine your young adult child is in a serious accident, or your unmarried sibling ends up in the hospital. Without the right documents, even close family members may not have the authority to help. The system defaults to a legal hierarchy that doesn’t always match real-life relationships.
Imagine your young adult child is in a serious accident, or your unmarried sibling ends up in the hospital. Without the right documents, even close family members may not have the authority to help. The system defaults to a legal hierarchy that doesn’t always match real-life relationships.
Without a plan, no one can readily and legally:
- Make healthcare decisions on your behalf
- Pay bills or access financial accounts
- Manage your property or care for your pets
- Ensure your wishes are honored in critical moments
Start With These Essentials
Every adult in your family should have:
Every adult in your family should have:
- A Health Care Surrogate form
- A Durable Power of Attorney
- A Will and possibly a Trust
- A Living Will to document medical wishes
Planning isn’t just about what you own. It’s about who you trust and how you want things handled when you can’t decide for yourself.
Disclaimer: Reading this blog post does not create an attorney-client relationship and is not legal or tax advice. This is for informational purposes only. It is best to speak with an attorney or tax professional about your specific situation, questions, assets, concerns, and needs.