I am under 35, is estate planning important?

00:00planning. Why is estate planning important? If you are 35, right? Estate planning is typically something that is thought of for the wealthy or for the elderly and I would love to just share and break that myth because estate planning is for everyone. It is incredibly important if you are in your 30s, you have minor children, you are building your wealth, you are creating a beautiful life for yourself, you might own real estate, you have bank accounts, you are likely saving for retirement, but what is the point of doing all of that if you're not also protecting it at the same time? So with estate planning you can nominate legal guardians for your minor children so that they never end up in a place where you don't want them to be. You control the how and the who. With estate planning you make sure that you're protecting your assets from having to go through court. In most states there is a probate process that your estate would have to go through if you pass away with no planning in place. Incapacity documents at any point during our lifetime we can be incapacitated. That does not discriminate against age or income. We could be in a car accident and have a traumatic brain injury. We could be physically incapacitated and then yes as we get older our mental health can absolutely start to decline and so incapacity documents powers of attorney are incredibly important so that you can nominate people who can serve on your behalf and help you in your time of need. So if you've been thinking about estate planning but putting it off because you think that you are too young, you are not. You are in the perfect position to do so and I almost argue that it's the most important for us to do.