If you are beginning the estate planning process, you probably have a lot of questions. After all, estate planning can feel overwhelming at times. It is difficult to make big decisions and think about some grim topics. But, it is one of the most important things you can do when it comes to protecting yourself and your loved ones in the future. One of the biggest questions people ask regarding estate planning is when they should begin. There are a lot of common misconceptions about this, so read on to find out more.
At What Age Should I Begin Estate Planning?
The truth of the matter is, you should begin planning your estate as early as possible. As you grow and change, your estate plan should grow and change as well. In most states, you can create a will at 18 years old. Some people believe that you don’t need a will unless you have children, or a certain amount of assets to pass on. This is not the case. Anyone who has property or assets can benefit from creating a will, as well as other estate planning documents. Some other documents you may want to consider include trusts, a healthcare directive, and a power of attorney.
Estate Planning on Your Own
Another question many people ask is whether they really need a lawyer when it comes to estate planning. Today, young people can do almost everything online, and estate planning is no different. You will be able to find plenty of DIY estate planning documents online. While it is possible to do this, it is likely not a good idea. Because your estate planning documents are so important, they must be created and filed in a specific way. If anything goes wrong, your estate planning documents may be considered invalid. This would cause a lot of trouble for your loved ones. Instead, it is best to work with an experienced estate planning attorney who can walk you through the process and ensure that you have the best estate plan for you and your needs.
Protecting Digital Assets
Millennials are fully immersed in the digital world, which means they most likely have several digital assets. These can include logins and passwords, websites they own/contribute to, cryptocurrency, and more. You can appoint a digital executor to handle these assets upon your passing.
If you are ready to begin the estate planning process, contact our firm today.
Contact our Firm
The Lauterbach Law Firm is proud to serve clients throughout Rockland County who are faced with legal matters related to estate planning, real estate, foreclosure defense, landlord-tenant law, business law, and criminal defense. If you require the services of an experienced team of attorneys, contact The Lauterbach Law Firm today to schedule a consultation.
