As you enter your 30s, it’s safe to assume that you have a lot on your plate. From starting a family to devoting more time to your career, there’s always something on your mind.
However, there’s something else you need to think about: your estate planning goals.
Although you have a long life ahead of you, there’s no better time than now to focus on your estate plan. Here are a few of the many things you need to do:
- Decide if you should create a will or trust.
- Create a living will, as this will help ensure that your wishes are followed if you are unable to communicate.
- Create a durable power of attorney so that there is someone to make financial decisions on your behalf if you are incapacitated.
- Purchase life insurance and name the right beneficiary.
- Start saving for retirement while also making note of how this will impact your estate plan.
These are not the only estate planning tips to follow in your 30s, but they are definitely among the most important. When you take the right steps early in life, you’ll feel much better about what’s to come for you and your family in the future.
There is nothing easy about creating an estate plan, especially if you’ve yet to think about what you’re trying to accomplish. Even so, once you reach your 30s, you must make sure you have the right protections in place. This will give you and your family the peace of mind that you deserve, both now and in the future.
Source: AOL, “6 Estate Planning Moves You Should Make in Your 30s,” accessed Sep. 29, 2017