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Younger Kent residents can benefit from estate planning

Something most young Kent residents do not think of is death. While many still feel immortal from their teenage years, life is not forever and can be taken without warning or reason. What happens when someone dies? If there is not a proper estate plan, devastation, turmoil and probate court may result. Leaving one's end-of-life wishes up to the government is not always a favorable option for loved ones left behind.

For most of the younger generation, estate planning is not a current issue. After all, death cannot be put off but estate planning can. Between paying off student loans to focusing on a career, estate planning is not necessarily on the minds of young people, especially if they feel they do not have much in the way of assets.

But an estate plan is more than just a will. It also includes who will be designated as power of attorney and medical power of attorney. Failing to have a proper estate plan such as a will or trust can prevent heirs from getting what the deceased would want them to have. That electric guitar that would one day go to a cousin could end up in the wrong hands without an estate plan.

Or take the case of a younger person who is involved in a terrible accident that leaves them on life support for the rest of their life. Would they want to stay alive or have the cord pulled? Having a proper estate plan can insure one's best wishes are carried out.

For the most part, end-of-life wishes can be met with the help of an estate plan. Deciding who gets what without an estate plan in place is often a cumbersome process. While many younger Kent residents may feel that they do not have a lot of assets to divide, they may be surprised. An attorney can often set up a basic estate plan in little time and will make sure your requests are heard and met.

Source: InvestorsPlace.com, "Young Investors: You Need An Estate Plan," Alyssa Oursler, May 13, 2013

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