Getting a Head Start: Estate Planning for the Under-40 Crowd

The common wisdom about estate planning says that it’s an old person’s game. No one starts state planning until 50, and even then you aren’t really worried about it. But this common wisdom is not legally sound. The reality is that estate planning concerns affect everyone. Estate planning lawyers like to say that you need an estate plan as soon as you become an adult. Even then, beginning your state planning efforts before you reach the age of 40 is not something a lot of people do, even though it is a prudent decision. Here’s why people under 40 need to consider estate planning. Estate Planning and Your Net Worth A lot of people under the age of 40 are burdened by debt. Many of them don’t have significant assets, and in total they may actually have a negative net worth. In such a situation, these people might wonder what value estate planning might have because their financial position is not very strong. This belief underlines one of the most common estate planning myths ar


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