Why Do Your Estate Planning Now? Putting Urgency to Your Plan 

For most younger people, especially single individuals with no children, it may seem as though estate planning is something that can be put off for many years or even decades. It may seem unnecessary to you, but it is far better to do your estate planning in your 20s, 30s and 40s. This is because many people may be sidelined by an unexpected incapacitating event.


A sudden illness or accident may render you unable to make decisions for yourself or to manage your finances. Estate planning is about so much more than distributing your assets after you have passed away. It’s also about naming the people who have decision making power and acting authority to serve on your behalf if and when that becomes necessary. Creating these documents now gives you peace of mind that should that situation arise, you’re in a good position to be cared for.


Waiting until the last minute also further complicates the estate planning process because you may not be physically healthy enough or in the right frame of mind to declare beneficiaries. A sudden decline in your physical or cognitive health could mean that you pass away without an estate at all, meaning that the state’s rules determine who receives your assets, and this may not be in line with your individual wishes.


It is far better to plan in advance by communicating with a qualified estate planning attorney about your intentions and your goals. You can accomplish many different things inside your estate beyond planning for incapacity, such as planning for who will be named as a guardian to your minor children, identifying non probate ways to distribute assets and more. A Michigan estate attorney can help you determine what fits with your needs and plan.

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