In this day and age, people in need of an answer live by the saying, “Google it.” However, when it comes to the future of your assets, why would you let the future of those assets be determined by Googling how to put together an estate plan yourself, when a probate law firm can do that with everything taken into account?
Nevertheless, I search, “at what age should I start thinking about estate plans and trusts?” When searching this on Google, I wonder if there is any use at all for a young adult to have an estate plan. While each and every individual’s assets and monetary plans are unique, planning ahead is an essential tool of everyday life. Estate planning is seldom different. However, many young adults may not have assets that need to be accounted for, and generally have parents or siblings that would direct and take over the assets that are available if necessary.
Nonetheless, there are many circumstances which warrant the possible creation of an estate plan. Whether it be an inheritance you may have, or gifted items that hold special meaning to you – monetarily or symbolically – it could be time to start thinking about where you may want them to go. While marriage and the birth of a child are common indicators to consider plans for the things you probably have worked hard for, it can be helpful before this stage in life as well. For many who give back and donate throughout their lifetimes, it may never be too early to begin considering the placement of assets in the hands of a charity in their wills.
Esteemed TV star and devoted animal rights figure Bob Barker is well known for his charitable efforts in his future estate plan and current time in retirement. An animal advocate, Barker takes pride in his recent endeavor in which he spent $1 million dollars removing three African elephants from the Toronto Zoo and placing them into a California animal sanctuary, PAWS. He actively speaks out against the confinement of these large animals in zoos and against the mistreatment of all animals worldwide. Barker plans to leave the majority, if not all of his estate to charities that benefit and promote the respect of animals.
On another front, the talented composer, Andrew Lloyd Webber, who worked to create the masterpieces Cats and Phantom of the Opera has a cause of his own. Webber plans to leave a huge portion of his estate to the industry that reflects who he was able to become, the theater industry. The English composer intends to assist struggling artists of the industry pursue their dreams and talents the way he was gratefully able to.
Of course, Bob Barker and Andrew Lloyd Webber aren’t considered youthful anymore. With that said, they have a plan for their assets. Whether they did it a few years ago or when they were much younger, there’s always a good reason as to why you should plan for an estate: you never know what can happen – but more importantly when something such as death can happen. That’s why – young or old – you need an estate plan that’s well put together and not something you do yourself through Google’s consultation. The Probate Pro can plan your estate and help you make sure that your assets are taken into account.
If you or someone you know is in need of an estate plan, call us at 1-(877)-YOUR-FIRM.
This blog entry was written by Carly Slattery.