If You’re a Young Adult, You Need an Estate Plan Too
If you are a young professional, the only time you’ve probably given estate planning any
thought at all is if an elderly family member dies and you inherit something. Other than
that, you are extremely unlikely to have prepared any estate planning documents, or
even given much thought to what might happen if you die or become incapacitated.
However, the fact is that every person aged 18 or over needs to think about estate
planning and make some effort to create an estate plan just in case you ever need one.
Your Decisions About Your Health Care
Estate planning will allow you to choose what you want to happen to you if you become
injured or unable to communicate your healthcare desires. By creating a living will,
healthcare power of attorney, or other advanced directive, you get to make the
decisions that will impact your medical care. If you don’t have these devices, those
decisions will be left to your spouse, or if you are single, to your parents or guardian, or
to someone a court chooses.
Your Decisions About Your Child
An estate plan is also especially important if you are a young adult who has a child. If
you should die or become incapacitated and are unable to care for that child, someone
else will have to do that for you. A court will have to appoint a guardian, and unless you
create an estate plan that names your choice of guardian, the court will choose
someone without your guidance.
Experienced estate planning attorneys Dallas TX of the John R. Vermillion & Associates,
LLC offers estate planning and business planning resources to residents of Dallas TX. To
learn more about these free resources, please visit http://www.revocabletrusts.com