Many individuals associate an estate plan, a will or power of attorney with the elderly who are nearing the end of their life. However, hiring an estate planning lawyer hernando county fl is both reasonable and prudent for adults of all ages. If you’re over the age of 18 it’s important to speak with a professional about your options in case you face a debilitating illness, accident or early death. This applies to people of all backgrounds and economic statuses. In addition, you’ll want to continue to make updates to your plans throughout your life as your financial status and number of potential dependents changes.
Once you turn 18, you have the right to make many decisions about your health care and life support in the event of a terminal illness or life altering injury. Be sure to communicate your desires with close family and friends, and have a lawyer draft a legal document to execute your wishes in the event that you become incapacitated or are unable to communicate your requests in the moment.
Middle Aged Adults
Once you become a parent, it’s important to update your plans during a serious medical event, as your wishes may have changed. In addition, you’ll now want to have your lawyer draft a will or trust to make sure that your children are cared for and provided for in the way that you wish. Choose a responsible guardian for all of your minor dependents.
At this point in your life, you’ll want to once again revisit your medical wishes, and should assign power of attorney to an adult child or loved one. You’ll probably have accumulated wealth and assets at this stage, and should also discuss when and how you want to have it distributed to your chosen beneficiaries.
With each new stage of life, be sure to discuss your plans with your lawyer to make sure that you’re happy with your choices during life’s changes.