The legal side of Legally Lani.
Attorney Lani Frost- The legal side of Legally Lani
Estate Planning Attorney
Why Estate Planning is Important in your 20's
No one knows what will happen tomorrow and for that reason, estate planning is important to everyone, including young adults.
Estate planning is vital because it helps to protect your assets and ensure that your wishes are carried out in the event of your incapacity or death. Below are events and ways estate planning protects you and the people you care about.
- Incapacity planning- documents such as a durable power of attorney, healthcare power of attorney, and advance directive, which appoint someone to make decisions for you if you become incapacitated due to an accident or illness. This is especially important for young adults who may be at higher risk for accidents.
- Asset protection: Even young adults may have assets that they want to protect, such as a car or a savings account. Estate planning can help ensure that your assets are protected and distributed according to your wishes in the event of your death.
- Beneficiary designation: Many young adults have retirement accounts, life insurance policies, and other assets that require beneficiary designations. Estate planning can help ensure that these designations are up-to-date and align with your wishes.
Healthcare decisions: Estate planning also involves creating a living will or advance directive, which outlines your medical wishes in the event that you cannot communicate them yourself. This is important for young adults who may be traveling or living away from family.
Digital assets: Many young adults have significant digital assets, such as social media accounts, email accounts, and online banking information. Estate planning can help ensure that your digital assets are protected and passed on according to your wishes.
Juris Doctor, (J.D.) Charleston School of Law
Master of Laws in Taxation (LLM), University of Florida, Levin College of Law
I can help with all your estate planning needs in Georgia or South Carolina.