What’s most important to you in this stage of life? That may change over time, and your estate and financial goals should change with it. What you need when you go off to or graduate from college is probably different from when you buy your first home or prepare for retirement, and it’s important to remember to update your estate plan as you go.
At each stage of your life and age you reach, it is important to think about the choices you make that give you greater security and control. Your estate plan is a strategy that aligns with you as needed.
As your life moves forward, you can work with a qualified and knowledgeable estate planning attorney to help you adapt your plan. When you are young before you have children, it is important to establish a power of attorney to make sure someone else is available to make decisions on your behalf and take actions for you.
Once you have children, establishing a life insurance policy and protection for your income and assets is important as well as naming a guardian for that minor child. At the next stage of life, you may find yourself caring for both children and aging parents at the same time. And as you get closer to retirement, you want to ensure that your beneficiaries and other estate planning documents are all in line with what you hoped to achieve.
Along the way, a knowledgeable estate planning lawyer in NH can help you to draft and update these documents to ensure they align with your individual needs. Set aside a time to talk about how your current estate plan accomplishes your goals or needs to be adapted.