It is easy to make mistakes when you are planning your estate. From choosing a healthcare proxy who lives in another state to forgetting to change your beneficiaries after a divorce, there are plenty of mistakes to be made.
When you're in your 20s, it might not seem like the right time to start planning your estate. After all, you probably think of your life extending into your 80s, 90s or even longer.
In your estate plan, one thing that you may want to address is what you'd like to see happen if you're terminally ill. Florida is the state with one of the largest elderly populations, so it makes sense that you may have questions about "mercy killings" and if they're legal.
Did you know that approximately 55 percent of people in America die without an estate plan or will? If you can help it, you could do all you can to make sure you don't fall into that statistic.
With the new year, there is no better time to look over your estate plan. Each year, it's a smart move to do this, since new laws, especially tax laws, could impact your estate.
It is never too early to begin planning for your future, and that includes your estate plan. Estate planning as early as in your 20s is a wise choice because there is never a guarantee on the length of a person's life.
One thing that may be very important to you is philanthropic giving. If it is, then you will want to make sure you include it in your estate plan. No matter how much you want to give, having it in your estate plan will help you give what you want to those who you feel need it most.
Estate planning should be a goal of every person regardless of age or location. While it's often discussed as something the elderly do, the reality is that planning for your eventual death or impairment is important to your future.
As you're getting older, something you may want to consider is starting a living trust. A living trust is a trust that is created during your lifetime for the easy transfer of your assets. The trust allows your beneficiaries to bypass probate, which saves time and energy following your death.