What are the four critical estate planning documents for young adults?

What are the four critical estate planning documents for young adults?

You’re not alone if estate planning is the furthest thing from your mind. It can feel like a distant, difficult and confusing process that we don’t need to worry about just yet. But estate planning is important for anyone over 18, even you! Planning ahead now will save time and hassle later on in life.

A Will

A will is a document that states how you want your estate to be handled after your death. This can include who you would like to inherit your property and assets, as well as who you would like to take care of any minor children. It's important to have a will in order to make sure that your wishes are carried out after your death.

Healthcare Proxy

A healthcare proxy is a legal document that names someone you trust to make decisions about your medical care if you are unable to do so yourself. This person is called your healthcare agent.

One of the main reasons to have a healthcare proxy is so that you can avoid being kept on life support if you don't want to be.

Living Will

A living will is a document that states your wishes for medical treatment if you are unable to make decisions yourself. This can include things like being kept on life support or having a feeding tube. It's important to have a living will in order to make sure that your wishes are followed if you are unable to speak for yourself.

Financial Power of Attorney

A financial power of attorney is a legal document that names someone you trust to handle your financial affairs if you are unable to do so yourself. This person is called your financial agent.

One of the main reasons to have a financial power of attorney is so that you can avoid being taken advantage of financially if you are unable to manage your finances, even temporarily

Estate planning is not only important for older people. In fact, it's crucial for anyone over the age of 18. That includes you! Make sure you know what your estate plan documents are and that they are in order before it's too late. A will is a document that states how you want your estate to be handled after your death. This can include who you would like to inherit your property and assets, as well as who you would like to take care of any minor children. It's important to have a will in order to make sure that your wishes are carried out after your death. A healthcare proxy is a legal document that names someone you trust to make decisions about your medical care.


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