If you are one of the many Oklahoma residents who is in your 20s or 30s, you might be very focused on establishing yourself as an independent adult. Moving out of your parents’ home for good and being financially responsible for every aspect of your life can feel daunting but it can also feel very good as you learn that you are able to truly take care of yourself and manage your life. As you learn to do this, it is also useful for you to consider some basic estate planning.
The thought of an estate plan might make you immediately think about a will or a trust. These are things one generally associates with someone who is older and in your parents’ or your grandparents’ generation as these people usually have more assets that require such attention. These people are also expected to have less time left to live than you do. These things may be true but that does not negate the importance of estate planning at your age.
As explained by NerdWallet, one element of an estate plan is an advanced health care directive that would allow another person to make medical decisions for you if you ever became unable to do so. If you have a child yet or will have one soon, an estate plan can outline your guardianship wishes should something happen to you unexpectedly.
This information is not intended to provide legal advice but is instead meant to give people in their 20s and 30s some information about how and why an estate plan can benefit them even at a young stage life.