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Estate planning must be a priority for young adults

Young adults don't think that they will die soon, so they might put off getting their estate plans together. This isn't a good idea, as you never know when an accident or health issue might claim your life. Instead of leaving your family without a clue about your wishes, you should start working on an estate plan right away.

We know that some circumstances can make getting your estate plan together difficult. We are here to learn your thoughts about the disposition of your estate to your intended heirs. This might help you to determine what type of plan you need to establish.

As a young adult, you might not have many assets. One thing for you to think about if you don't have any assets is what will happen to your other belongings, such as clothes, jewelry and other items. If you think there is a chance that someone will fight over something, cover that item in the will or place it in a trust.

You must also decide what you want for your children. You will need to appoint a guardian for them. This person steps in to care for the child. Make sure that you have both a long-term plan and short-term plan. This helps to ensure that everyone is on the same page about the kids. If possible, set aside some assets to help cover the cost of raising the children.

There are other components of an estate plan to consider. These are the living will, trusts and advanced medical directives. Others might also be present in your case. We will work with you to ensure that we establish what you need.

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Law Offices of Nancy M. Rice
Representing clients in Ocean City and communities throughout New Jersey.

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Law Offices of Nancy M. Rice
1236 Brace Road, Suite F
CHERRY HILL, NJ 08034

Phone: 856-673-0048
Fax: 856-673-0052
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Law Offices of Nancy M. Rice
Linwood Professional Plaza
2021 New Road, Unit #9
Linwood, NJ 08221

Phone: 609-398-3447
Fax: 856-673-0052
Map & Directions

Cherry Hill Office

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