One of the many things people wonder about when it comes to estate planning, is when they should plan for their own estates. People often think the best time for estate planning, is after some particular life event happens.
They wonder if that means they should do it after they get their first job, after they get married, after they have their first child, after they make a certain amount of money, after they retire or after something else. The truth is that estate planning should be done after any of those events. It is best not to wait for any particular event to get started.
You will always be better off with a plan, than without one, as grbj.com points out in "Estate Planning: better done sooner rather than later."
You never know when you will need to have an estate plan. You cannot guarantee you will only pass away after you have lived long enough to experience any specific big life-changing event. We all know that life and death does not work that way. Waiting for something specific to happen in your life before getting an estate plan, does not make sense.
It always makes good sense to have an estate plan. Having one will leave your heirs better off after you pass away, no matter how many assets you have or at what stage of life.
Do not wait for something to happen to get an estate plan. Visit an estate planning attorney and get one now.
Reference: grbj.com (Feb. 9, 2018) "Estate Planning: better done sooner rather than later."