Is estate planning necessary for young people?

As a young North Carolina resident, you may not think you need a will if you do not yet have children or significant financial assets. However, there are many important benefits to estate planning, no matter how old you are. Taking the time to create an estate plan makes it possible for you to have more control over your medical care, digital assets and other property.

North Carolina allows you to make a will if you are at least 18 years old and are of sound mind. Additionally, this state is one of the few that allows handwritten wills, as long as you write and sign it yourself and keep it in a safe place with your other valuables. If you choose to create a handwritten will, it may receive more intense scrutiny than an official typed document.

Even if traditional estate planning topics such as guardianship of minor children do not apply to you, there are still several essential things you may want to consider. Drafting a simple will that leaves your financial assets to your parents or other recipients may reduce the chances of the state deciding how to distribute your property. Another step is to create a durable power of attorney, giving a trusted person the ability to make important decisions on your behalf if you cannot. You may also choose to give this person the legal right to access and manage your digital assets. Finally, you may want to create a medical directive to state your desires about life support and other health care issues.

This information about estate planning is provided for educational purposes and should not be interpreted as legal advice. An experienced attorney may make estate planning easier. Please contact our law firm for more information.

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