If you’re in your 20s, then you’ve probably heard your parents, relatives, or other older people tell you that you’re in the early stages of life and are just getting started. So, with so much affirmation for your young age, it isn’t uncommon to think that estate planning is something you won’t need to worry about any time soon. However, our estate planning lawyers in McAllen are here to shed some light on this topic.
The Numbers
In Texas, you can legally execute a valid will at 18 years of age. With that said, according to a 2020 report by Caring.com, only 16.4% of people aged 18 to 34 have estate planning documents in place. In the 35 to 54 age group, only 27.2% have planned their estate.
When compared to 2017’s numbers, 24% fewer people have prepared a will in 2020. The numbers are alarmingly low, but while the trend is changing, the importance of estate planning, even at a young age, remains the same.
Why is it Important?
One of the most exciting things about being young is that your options are limitless. You can start a business, start a family, and find the success you can build for the rest of your life.
An estate plan can provide a bit of certainty in an otherwise ambiguous path in life. This way, you’ll know exactly where the things you’ll achieve will go if you were to suddenly pass. Plus, it’ll provide the people you care about with the peace of mind they need.
Contact Our McAllen Estate Planning Lawyers
Estate planning isn’t easy to talk about, especially if you’re barely getting into the swing of life. But don’t worry, our estate planning lawyers are here to make sure you get the help you need. Contact us today for more information about our services.