Should You Start Thinking About an Estate Plan?
Many people associate estate plans with older or wealthy people. In reality, any adult can benefit from having an estate plan – in fact, Georgia allows people as young as 14 to create a will. While you might not need a highly complex plan if you are young and have little property, having a basic estate plan can benefit you and your family in many ways. The following are only some ways an estate plan can help young adults:
- A will can help make the probate process easier for your family if you suddenly pass away
- If you have a child, you can use a will to decide who will take care of them should that be necessary
- Having a durable power of attorney in place will ensure that someone can handle your bills and other financial affairs if you become incapacitated
- Having a power of attorney for healthcare will ensure that someone you trust will have the authority to make important medical decisions
While none of us like to think about the possibility of a serious injury or illness, the current COVID-19 pandemic has brought these thoughts to the forefront of many of our minds. What if you had to go to the hospital? Who would make decisions about your care? Who would be able to access your bank accounts to prevent a financial disaster once you recover? What happens if you do not recover? These are all highly important questions that can be addressed by putting a basic estate plan in place.
Consult with an Estate Planning Lawyer in Fayetteville Today
Whether there is a public health crisis or not, having an estate plan is always wise, and a Fayetteville estate planning attorney at Overman & Overman can help. Contact us online or call 770.626.5200 for more information about your options.