Everyone can benefit from estate planning once they reach adulthood, even people who believe they don’t have enough assets to do so. Even children who have recently reached the age of majority and have gone off to college, the military, or to live their own life may benefit from creating some basic estate planning documents such as a power of attorney.
There’s a big myth that only people who are older, approaching retirement or dealing with potentially catastrophic health issues need to undergo the creation of an estate plan. This is not true, and you could find yourself dealing with serious problems, or putting your loved ones in difficult situations if you have not used the services of a lawyer to create an estate plan.
The truth is that every adult over age 18 should meet with a New Hampshire estate planning attorney to discuss the creation of your own plan. While these documents, strategies and the underlying plan may ultimately shift over time based on your individual needs, it is smart to have an attorney help you create these now.
Knowing that you’ve named key people to step in and help with your financial or healthcare needs if you were unable to speak for yourself can make things easier if you have a health or other crisis.
You can then return to that relationship with that lawyer as your life circumstances change. For example, as you purchase a home, get married or have children, that same New Hampshire estate planning lawyer can help you review your existing documents and to make any necessary adaptations depending on your goals. When you already know and trust your estate planning lawyer, it is that much easier to accomplish these tasks.