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If you are healthy, don’t have many assets, and haven’t had children yet, it’s easy to think you can push off estate planning for several more years. It’s a common misconception that only older people have to worry about it, but planning for the future is just as important for the younger generation. The document ensures you and your loved ones are protected if an unexpected and life-altering event occurs. 

Health Care & Finances

Although it can be difficult to think about, it’s possible for an individual to become incapacitated due to an injury or illness at any age. Should this happen to you, it’s important to have your wishes documented and a chosen individual to act on your behalf for health care decisions and financial arrangements. You want to ensure these important choices are made by someone you trust.

Guardianship & Asset Distribution

estate planningEstate planning is crucial for parents who pass away leaving children behind. Drafting a will gives you the opportunity to appoint guardianship for your kids; otherwise, it will be up to the courts to decide who will raise them. In addition, without clear instructions left in an estate plan, costly legal fees may ensue as your loved ones try to determine how your assets should be distributed.

 

The best approach you can take to estate planning is to start working with an attorney as a young adult. The future is not guaranteed, and you have no way of knowing what life will bring. The team at LaRowe Gerlach Taggart LLP, Attorneys at Law, offers the residents of Reedsburg, WI, expert assistance in creating these documents. Contact the professionals at (608) 524-8231 to discuss how you can benefit from a well-constructed estate plan. You can also visit them online for more information about the practice areas they specialize in.

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