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Young adults should think about the future

All adults should have an estate plan in place just in case something happens to you. The problem is that many young adults think that they have plenty of time to create their plans so they don't take action. While they might be right, there is still a chance that the worst could happen. Then, their loved ones are left without a plan.

The process of creating an estate plan must be personalized. Everyone can't use the same template because every situation and circumstance is different. For example, a person who is single will have a much different estate plan than a person who is married and has children.

When you are considering what to include in the estate plan, you have to think about your circumstances and who you want to take care of if something happens to you. These are the individuals you can name in the will and any trust you establish.

You can't limit your plan to only the material items you have. You also need to think about your final days. Another big mistake that people think is that they'll never become incapacitated. Unfortunately, you might be subjected to medical treatments you don't want if you don't have a living will in place.

Just in case you're ever incapacitated, you should also give a person power of attorney over your heath care decisions. This person works closely with your medical care team to ensure you get the care you want. You can also give someone power of attorney over your finances so they can handle those matters for you.

It is imperative that you take the time to get your plan together before it's too late. Not only does this help you but it can also help your loved ones enjoy more security if something happens to you.

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

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CHERRY HILL, NJ 08034

Phone: 856-673-0048
Fax: 856-673-0052
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Rice & Quattrone, PC
Linwood Professional Plaza
2021 New Road, Unit #9
Linwood, NJ 08221

Phone: 609-398-3447
Fax: 856-673-0052
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