When you examine the statistics you find that most people who are under the age of 50 do not have an estate plan in place. Yet, if you were to look at mortality figures you would find that significant numbers of people pass away before they reach the age of 50 every day.
If you pass away as a senior citizen your children are very likely to be grown. Your grandchildren may even have reached adulthood. Of course you want to provide for your adult family members, but they are probably doing just fine on their own.
On the other hand, people who are in their 20s, 30s, and 40s are often times going to have dependent children still in the home. In addition, these individuals may not be particularly financially established. So it could be logically argued that estate planning is even more important for younger adults than it is for senior citizens.
Yet, so many young parents are going through life without an estate plan. When you do this you are not putting yourself at risk– you are placing your spouse and your children in harm’s way.
As soon as you have someone depending on you as an adult you have an added level responsibilities. One of these basic core responsibilities is to have an estate plan in place that provides a financial safety net for those that you love. If this make sense to you, right now would be a good time to set up a consultation with a licensed and experienced Cleveland OH estate planning lawyer.
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