Why Is Estate Planning Important for Younger People?

With youth on your side, you may believe you have time before you need to worry about end-of-life preparations. However, an accident or sudden health problem can cut anyone’s time short before they’re ready. Meeting with an estate planning lawyer earlier in life can help save your family unbearable stress when deciding how to make crucial medical and financial decisions or even accessing your bank accounts.

Before searching for an “estate planning attorney near me” in Florida, learn what you need to be aware of when looking for legal representation for your assets after you pass away. At the Law Offices of Sherri M. Stinson, we want to help you protect yourself from the unintended consequences of failing to plan for the future. Even though you may be young, there are crucial things that need to know about estate planning and we can help you avoid problems that you do not even know you have.

What Is Estate Planning?

Estate planning includes:

  • Making sure your loved ones can access your finances without the need for probate
  • Naming heirs
  • Drafting a last will and testament to describe other end-of-life procedures, like funeral and burial arrangements

You may also prepare for incapacity if you cannot make your own decisions. For example, you can name a durable power of attorney (DPOA) and healthcare power of attorney (patient advocate) as part of your advance directives. A DPOA can manage your finances and access your assets to pay for medical care and expenses as you would if you were able. A patient advocate could make medical decisions on your behalf if necessary.

Having a DPOA and patient advocate can help if you are in an accident that leaves you unable to communicate your needs. You can name the same person to be your DPOA and patient advocate, such as a parent or spouse. By establishing your advance directives while you are healthy, you may communicate what to do in the event you are on life support or need care in a long-term care facility. This allows you to retain control and prevents these decisions from being made by others.

How an Estate Planning Lawyer Can Help You Plan for Your Future

An experienced estate planning attorney can help you draft several legal documents to plan for your death or incapacity, including:

Even young people have debts to pay and assets to consider if they pass away suddenly. Although a will can help you name heirs and what assets they should receive when you pass away, a will alone must go through probate so the courts can pay your taxes and creditors first. Protecting certain assets in a trust keeps those assets from going through probate.

Why Do Young People Need Estate Planning in Florida?

The leading cause of death in people under 40 is accidental injury, with 34% of deaths in the 25-44 age group caused by accidents. Young parents can leave behind young children with no one to care for them except their retired grandparents. Even single young adults with no children can leave college debt, funeral expenses, and more for their parents and siblings to figure out.

While you can take specific actions to reduce your risk of injuries by following the speed limit and wearing your seatbelt while driving, you can’t always prevent an accident. For example, a drunk driver could hit you after running a red light. You must prepare for these possibilities regarding your estate. Early estate planning can guide your family about your wishes for childcare, guardianship, funeral arrangements, and more.

How To Find The Right Estate Planning Attorney

Your estate planning attorney will help you make some of the most important decisions and plans that will survive after you have passed away. You need to choose an experienced lawyer who has helped others protect their assets and secure their legacy while taking steps to facilitate decisions that, without a sound estate plan, would be left to loved ones or others.

Testimonials or reviews from previous clients who have been through the estate planning process can help to give you an idea of what to expect. A personal touch is essential, as your estate planning attorney needs to understand your values and concerns while helping you to address the implications of the possibility of your untimely passing.

These are things that most people don’t like to think about, but delaying the conversation is one of the worst things you can do when it comes to your estate. At the Law Offices of Sherri M. Stinson, you will come to value the informative and helpful approach we combine with years of experience in all facets of estate planning. You will benefit from a guide who will help you avoid missteps that could cause various problems for your assets, your intended heirs, or other loved ones later. Prevent those problems by getting your estate plan in order sooner rather than later. Too many wait until it is too late.

Contact the Law Offices of Sherri M. Stinson for an Estate Planning Attorney in Palm Harbor, FL

At the Law Offices of Sherri M. Stinson, we strive to ensure that you are valued and heard today and for the rest of your life. We work hard to preserve your values to help you leave a legacy for your family should the worst ever happen.

No matter your age, it’s never too early to begin estate planning. Call us today at the Law Offices of Sherri M. Stinson at (727) 351-7057 or contact us online to schedule a consultation by phone or at our office in Palm Harbor, FL.

Copyright © 2022. Law Offices of Sherri M. Stinson, P.A. All rights reserved.

The information in this blog post (“post”) is provided for general informational purposes only and may not reflect the current law in your jurisdiction. No information in this post should be construed as legal advice from the individual author or the law firm, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting based on any information included in or accessible through this post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country, or other appropriate licensing jurisdiction.

Law Offices of Sherri M. Stinson, P.A.
522 Alt 19 #1
Palm Harbor, FL 34683
(727) 351-7057
https://stinsonlegal.com

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