Let’s get right down to it: the answer is no. It’s never too late to create an estate plan. Sure, it may be ideal to create an estate plan at the exact right time of your life, but things don’t always work out that way. The best thing you can do is act today based on your current circumstances and goals.
Here’s why it’s never too late to create an estate plan:
- Regardless of your age, you have the power to create an estate plan that suits you, your loved ones, and your assets. Take for example someone who is many years past retirement with no estate plan. Despite their age, they can still create a will or trust that dictates what happens to their assets upon their death.
- You need it. You’re not required by law to create an estate plan, but it’s in the best interest of you and your family. Don’t get so hung up on your age that you begin to believe that it’s better to avoid estate planning altogether. You need it, even if you only create an estate plan in its most basic form.
- It’ll give you peace of mind. Living without an estate plan is sure to weigh on you. You’ll constantly worry about things such as what will happen to your assets upon your passing, what will happen if you’re incapacitated, and how you’ll pay for long-term care. An estate plan can address all of these concerns, which in turn gives you peace of mind.
Now what do you think? Have you come to realize that you can create an estate plan regardless of your age?
If you need help getting started, contact our law firm to set up a consultation with an experienced estate planning attorney. Our team is here to provide guidance every step of the way.