Many people think about writing a will later on in their life — for example, after the age of 65. However, estate planning experts often argue that this is too late. All people should consider planning their estate so that they have peace of mind.
How early is adequate and financially wise? The exact time that is best will differ for everyone. However, anyone who has a significant estate, no matter their age, should probably have a plan in place that would help their beneficiaries inherit as much of the estate as possible.
What is the youngest age at which you can write your own will?
In order to write a valid will, a person must be 18 or older. This is the case throughout the United States. If you are under 30 and have significant assets, you may want to draft a will so that these assets will not be subject to probate or estate taxes.
What are the benefits of planning your estate early?
Planning your estate when under the age of 30 does not need to feel morbid. It’s a way of being financially responsible, and it will help you to save time in the future, because you will likely only need to maintain and adjust your estate plan in future years as your financial situation and relationships change.
If you are thinking about putting an estate plan in place as a younger person, it is important to know all of the estate planning tools available to you. Make sure to conduct thorough research before planning your estate in Arizona.