Why You’re Never Too Young to Set Up an Estate Plan

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Estate planning requires plenty of time, attention to detail, and care. This type of planning is important to organizing and distributing tasks to benefit an individual’s assets in the event of injury or death. Although estate planning can be a morbid task that is detail-oriented and complicated, doing this at a young age can help prepare in the event of an accident.

Where can I do my state planning online?

Financial EDU Services

  • The positives of this site include the MyCare Plan, which helps take care of estate planning for the beneficiaries. MyCare plan takes care of all necessary aspects, like a last will, living trust, health care power of attorney, and financial power of attorney. To have more details about your estate planning, you can click here for mycare info.

Nolo’s Quicken Willmaker & Trust

  • The pros of using this online estate planning service are the comprehensive estate planning tools, executor offering, and family documents.
  • The negatives of using this service is the requirement of high operating systems and the lack of compatibility on mobile devices

US Legal Wills

  • The positives of using US Legal Wills is the inclusion of forms for assets outside of the United States and discounts for documents for your spouse or partner
  • The negatives of this service is the time-consuming signup process and the lack of efficient website

Trust & Will

  • Using Trust & Will lets you research and read articles on all facets of estate planning, three-option availability, and intuitive website
  • The only con of this online service is the lack of free legal consultations

What is the importance of estate planning?

Creating a last will and testament is one of the most important components of estate planning. Although you usually find that people do this after a certain age or once they have kids, doing this step while you’re still young is a smart and responsible financial step. People of all ages must execute a Will so the person’s assets can be fairly distributed according to the individual’s orders.

Without a Will, state laws determine how the assets will be distributed – frequently, they are not distributed how the person may have wished. Those who have young families will usually order guardians of children as one of the first steps of estate planning and creating a Will. In many cases, this involves forming a trust fund that transfers the parents’ funds into the child’s bank account.

Furthermore, naming a HealthCare proxy is another crucial step in determining the Will of a loved one. This provides the power of someone to make medical decisions on your behalf if you cannot do so, such as after a traumatic accident or in the case of being non-responsive.

Since an accident can happen at any time, taking the steps to begin estate planning and creating a Will are essential to people of all ages.

Conclusion

Creating a will, living trust, health care power of attorney, and financial power of attorney are all key steps to taking care of your estate planning. By using online sites like MyCare Plan, US Legal Wills, or Trust & Will, you can ensure all of this is done in an easy and seamless way.

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