Broomfield CO, family attorney

When Should I Start Estate Planning?

You Need an Estate Planning Lawyer

Speaking with an estate planning lawyer has many benefits. They can help explain the advantages of proper planning that will save you and your family from devastating consequences that can arise from not having a plan in place. An estate planning lawyer is an excellent option for anyone who wants to decide how their assets are managed and distributed after death, especially If you have a large, complicated, blended family structure.

When Should You Start Estate Planning?

There’s no right time to start estate planning. Regardless of your age, the sooner you begin the process, the better—even if you only focus on updating your estate plan as your assets grow or change. Different estate plans depend on where you are in your life. In a survey completed by in 2020, nearly 30% of people feel that they should have a will in place before they turn 35. However, many advisors will suggest you start estate planning as soon as you become the legal age. Once you turn 18, you are now responsible for your finances, healthcare (in many states), and you’ll want to ensure you have everything accounted for. 

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Historically, the principle aspect of estate planning has been to allocate which assets will filter down to your heirs. A lawyer who specializes in asset management can help direct you in every part of your process. Without protecting your property and assets, they could get tied up in probate for years. This means that things could get ugly, leaving the courts to decide who gets what. As time passes, fees get racked up. 

Do you want to leave this kind of decision up to the courts? Hire an estate planning lawyer to ensure that your family won’t be left with any adverse effects from your passing. Your estate planning lawyer is ready to assist you before any trouble can begin.