estate planning early, when should you start estate planning, when to start estate planning

2021-04-20

Why It’s Never Too Early to Start Estate Planning

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When you hear the term estate planning, the first thing you probably think about is a person in their mid-60’s, or older. Well today we’re going to challenge your perception. What if we told you that you should have an estate plan much earlier than that?

We would argue that if you own a home, you should have an estate plan. Even if you don’t, 25 isn’t too early to start thinking about planning to protect your estate, and ensuring that your family will be taken care of if anything happens to you.

 

Early Estate Planning Can Protect You

Here is a firsthand account about how one community member learned this lesson the hard way:

“I found myself lying flat on the deck, with the ladder I had just fallen off next to me. It brought me a sudden moment of clarity. What if this fall had happened a bit differently? Would my family be taken care of? I shuddered from the cold realization. There was no estate plan in place yet. I assumed it was too early to start estate planning.

Estate planning is for people nearing their 60’s, right? Well here life was, popping up with an unexpected lesson in the form of a shaky ladder. My fall from the roof might have broken my rib, but it opened my eyes. 

 

You should start estate planning well before retirement age. 

 

Hazards can’t always be avoided. We usually have no idea when they’ll spring up, throwing a wrench in our perfectly laid plans. That’s why it’s never too early to be prepared. You don’t know what life will throw at you, and how it’s going to affect your happiness and security. 

I thought the estate planning phase of my life was at least 20 years away. I was wrong. If that fall had gone differently, and I was permanently disabled, or had died, my family would have been left struggling. 

 

To make sure I can take care of my family, even after I’m gone, I know I need a solid estate plan.

 

Phelps LaClair has been in the business of estate planning for over 40 years. They’re a 2nd generation business, and the experience their staff members possess shows. If after reading this story, you’re like me and you understand how important it is to have an estate plan even early on in your life, give Phelps LaClair a call and see how they can help you.”

 

Let Phelps LaClair Help You Prepare

Prepare yourself for whatever life throws at you. Contact our experienced estate planning attorneys at Phelps LaClair and see how we can help you secure your assets and protect your family from the unexpected. Don’t wait for something like this to happen to you before you start to prepare. Plan your estate today.

 

Image used under creative commons license – CC0 1.0 (3/30/2021) PxHere

 

 

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