Sometimes, when people picture estate planning, they think of middle-aged or elderly folks. However, planning ahead can be beneficial for adults of all ages and at TdD Attorneys at Law, our St. Louis law firm knows how true this is for many adults across Missouri. There are a plethora of situations that can arise which make an estate plan vital. Unfortunately, some younger people do not have such plans in place, which can be problematic.
Whether a younger person is involved in a car accident and passes away or loses their ability to communicate following an accident that occurred at work, there are diverse reasons why having an estate plan is smart for all adults. Without an estate plan in place, a young adult may find themselves unable to have any say in how their assets are distributed when something goes wrong. People do not always focus on the different ways in which a younger person can lose control of their estate, but having a plan in place can be valuable for the entire family.
If you have an adult child, or are a young adult yourself, you may want to consider the benefits of setting up an estate plan. Even if nothing goes wrong in the earlier part of your life, you may find that having an estate plan gives you peace of mind. If you check out our estate planning page, you can go through more material on revocable trusts, wills and some of the other estate-related topics you may want to look into.