Am I Too Young to Think About Estate Planning?

 Posted on November 16, 2023 in Estate Planning

As you embark on the exciting journey of parenthood and envision a bright future for your family, estate planning might not be the first thing on your mind. However, it is a crucial step to ensure that your loved ones are taken care of in case something unexpected happens. As a provider, having a plan in place is essential to support your dependents. If you are a young family, you will need a Texas estate planning attorney to help you with this journey.

What Are Important Considerations If I Have Children?

In the unfortunate event of your passing or that of your spouse, it is vital to designate a guardian for your child. This decision requires careful thought. Consider whether the chosen person shares your values, if your child knows them well, and if the individual has given consent. Avoid selecting someone too young or too advanced in age; aim for someone available to take on the responsibility when needed. 

Why Are Digital Assets Important?

Gone are the days of filing away the most important documents. Most people now have digital files of just about everything. Do not overlook your digital assets and property, including music, videos, and documents. Develop a plan for these assets, and keep access passwords in a secure and easily accessible place. Designate someone you trust to manage this aspect of your estate. 

Can The Plan Be Changed?

Given that you have many years ahead, consider a living will. Granting power of attorney to someone you trust can be crucial for unforeseen medical decisions not covered in your will. This ensures that there is a designated person to make choices on your behalf if you are ever incapacitated. An attorney can guide you through the legal complexities, ensuring that your wishes are clearly documented and legally binding. This proactive approach not only simplifies the process for the family but also offers peace of mind, knowing that their children will be taken care of according to their wishes in any unforeseen circumstances.

Schedule a Free Consultation with a Fort Worth, TX Estate Planning Lawyer

It is never too early to start planning your estate, but waiting too long can be risky. At Gonzalez Law, PLLC we can help you understand your options so that you feel empowered to make these decisions now. A Fort Worth, TX estate planning attorney can help you feel confident that you have taken the necessary steps to secure your family's well-being. Call 817-349-7330 for a free consultation.