A common question asked by most families is when they should start planning their estate. The answer is that is it never too early. However, it is advisable to use the services of an experience estate planning attorney in Connecticut to ensure that you are following the law. This will ensure that your estate is handled just exactly as you desire.
Estate Planning for Your 20’s
Most people in their 20’s don’t believe they have enough assets to start creating their estate plan. An estate plan is more than just how your assets are handled, however. It’s also about making major decisions. This age group should focus on healthcare powers of attorney and advanced health care directives that help loved ones make easier end of life choices for them should they be unable to do so for themselves.
Estate Planning for Your 30’s
Typically people in this age group have already purchased a home and are beginning to start their family. This is the proper age to gather information on your assets so you can start to have your wills and trusts prepared. It is also the perfect time to purchase a life insurance policy.
Estate Planning for Your 40’s & 50’s
At this point you should have your estate planning in order and be focused on long-term care insurance. It is also the ideal time to start your retirement planning since you have more than likely already reached a higher earning potential. You should also work closely with your attorney to keep your wills, trusts, beneficiaries and insurance policies updated.
Estate Planning for Your 60’s and Beyond
By the time you have reached the age of being a senior citizen you should have your estate firmly in place, especially if you started in your early years. At this age it is more about refining your estate planning provisions. Don’t wait until you’re elderly and it’s too late. Start planning today with your estate planning attorney.
