You can’t start estate planning too early.
The earlier you begin, the better you will be prepared for life’s ups and downs. And if you have a family, you really better get started.
Here are some estate planning tips for those under age 40, as outlined in a story on usnews.com.
- Start now, no matter how much you are worth. Even if you have nothing but debt. Especially if you have children.
- Talk with your family about what you want, just in case. Get their input and explain your decision making process.
- Focus on the basics: life insurance, a will, a living will, and a durable power of attorney.
- Engage an estate planning professional and a financial planner. Don’t try to do it all yourself.
- Continue to review your plan over time. Things can change.