People often think of estate planning as something that is only for people who are in their 60s or above. But the truth is that young adults should have estate plans, too. So today, I’m going to continue the conversation on estate planning by sharing a few tips for young people to get organized in this area, as well as common mistakes people make when dealing with estate planning documents.
Listen in as I share the important paperwork you want to have in place as early as 17 or 18 years old. You'll learn how parents can help get estate planning started for their kids, what you should be checking on and updating over time, and how to handle estate planning documents properly at any age.
Listen to the Full Episode:
What You'll Learn In Today's Episode:
- When to start estate planning.
- The most important paperwork to have as a young adult.
- A key thing people forget when dealing with estate planning paperwork.
- The role of the parent or caregiver.
- Things to update and check over time.
Ideas Worth Sharing:
“People think of estate planning as only for those who are 60, 70, 80 … and that it’s their final wishes. That’s a component of estate planning, but it’s not the end all be all.” - Jonathan Bednar
“People as young as 18 should have an estate plan.” - Jonathan Bednar
“It’s vastly important to have the right paperwork in place, so if something happens traveling to and from school or if [kids] get COVID, the parents can step in and help more easily.” - Jonathan Bednar
Resources In Today's Episode:
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