There are certain responsibilities that go along with being a self-supporting adult. This is true for everyone, but it is especially important for people who have others depending on them. For this reason, the myth about estate planning only being relevant to the elderly is truly misleading and inaccurate.
In a very real sense, it is more important for younger people to have an estate plan because they are more likely to have dependents still living in the home. If you want to do right by those that you love, you should have a vehicle of income replacement in place, as well as a Will or a Trust and advance health care directives asserting your wishes with regard to medical procedures.
According to a Harris interactive survey that was conducted among 1,022 American adults late in 2009, only 24% of the participants who were under the age of 35 had executed any estate planning documents at all. And even older Americans were surprisingly unprepared, with 23% of respondents over the age of 55 acknowledging that they didn’t have any sort of estate plan in place.
The reality is that there is no excuse for procrastination because the stakes are so very high. While it is understandable that a lot of people don’t know where to begin, there’s a simple solution. All you have to do is pick up the phone and arrange for an appointment with an experienced Campbell, California Estate Planning attorney who will assist you as you craft an estate plan that protects your family while ensuring your legacy.
Roy has an undergraduate degree in accounting from Indiana State University, and a Juris Doctor degree from Indiana University. He graduated from law school in 1973. Roy was a member of the legal fraternity of Phi Delta Phi and president of the local chapter at Indiana University Law School in 1972-73. In law school he was a recipient of the Dean Faust Award and received awards and honors in income taxation and estate and gift taxation.
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