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Too young to create an estate plan? Probably not.

The idea of estate planning might bring to mind a stuffy conference room with lawyers and a retirement-aged couple planning for the end of life. Creating something like a will, however, is not a stuffy and grim legal experience. It is a planning tool that can provide motivation, clarity and a sense of confidence among men and women of any age. 

Honestly, if there is a retirement-aged couple creating an estate plan for the first time, that couple is really behind. And they might want to count themselves as lucky if they haven't run into needing what an estate plan can provide. Don't let yourself and/or your family fall behind and get caught in a tricky situation you could have avoided.

What do we mean by that? Well first off, yes, we are talking to you. Even if you "are only" 33 and just growing in your career and into your family home, you have various reasons to create an estate plan for you and your family. The up-and-coming generation of young families and workers is the Millennial Generation. If you are a Millennial, it is wise to take stock of your position in life and plan responsibly. 

Pew Research presents some statistics about the various generations in the U.S.. A few of the facts suggest the importance for Millennials to create estate plans:

Education levels: The men and women in this generation are more highly and widely education than in eras past. This not only means that they should know better and, therefore, create wills or trusts, but it suggests they may earn assets to address in their plans.

Relationship choices: The marriage rate of Millennials is lower than in other generations. If couples are committed and living together but aren't married, an estate plan could specify where assets would go if a partner died. Without marriage, a partner could miss out on the assets meant for them because they aren't technically considered family. 

These are just a couple of reasons why planning for an estate in your 30s can be necessary. There are other matters to consider and discuss with an estate planning lawyer in your state. Trust us, it is rarely too early or not important to begin the estate planning process.

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Law Office of Jeffrey B. Pape, P.C.
642 Pollasky Avenue
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Clovis, CA 93612

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