The average life expectancy in the United States right now is around 78 years, but this does not mean that you can wait until you are 65 or 70 to start planning your estate.
If you follow the news you are well aware of the fact that young adults pass away every day, and in many cases they are parents of young children.
We live in an era during which two incomes are frequently necessary to maintain the quality of living of a young family. If one of the wage earners was to pass away the standard of living of the surviving spouse and the children could be jeopardized unless proper preparations were made in advance.
And in a case when both parents were to pass away together suddenly in an accident an even more dire scenario would present itself with regard to the children. You have to think about this possibility and make the appropriate preparations for the well-being of your dependents. After all, they are your responsibility and it is up to you to keep them safe in light of any and all eventualities.
You may not know exactly how to go about planning for all possibilities as a young adult and this is certainly understandable. The intelligent first step is to reach out and make an appointment to speak with a good Somerset County estate planning lawyer. Your attorney will gain an understanding of your family dynamic, become apprised of your wishes, and help you craft a plan that protects your loved ones come what may.
- Important Subjects to Discuss with Your Estate Planning Attorney - January 23, 2023
- Planning for the Possibility of Dementia - January 20, 2023
- How to Prepare for Retirement - January 17, 2023
