Estate Planning in Your 20s & 30s | Santa Cruz Attorney

California Wills & Trusts Lawyer

As a person in your 20s or 30s, estate planning may not seem like a high priority. It is easy to put off thoughts of writing a will or developing a retirement trust. After all, you are young and have plenty of time to take care of things later, right? Not necessarily.

No one can predict the future. Anything could happen. Why not make certain you have a plan in place that protects your future and provides peace of mind for your loved ones should the unexpected occur?

At the Santa Cruz law firm of Timothy J. Morgan, Attorney at Law, we aren't just "your parents' law firm." Our lawyers recognize estate planning in your 20s and 30s is a whole other ballgame. You have different assets to protect and different concerns about the future of your young family.

Contact us at 831-216-1350 | 800-724-1971 to discuss estate planning in your 20s and 30s and how we can help you put a plan in place that makes your wishes known, but provides for adaptability as the years go by.

Protecting Your Family and Home

A majority of our younger clients are just entering the world of homeownership and parenthood. During these exciting times, it is critical to put a plan in place that provides direction in case the unforeseen occurs. Should you and/or your spouse unexpectedly pass away, protecting your home through a will or trust and providing for your children through a guardianship can ensure your final wishes are carried out and make things easier for those left behind.

It is also wise for those choosing to establish estate planning documents in their 20s and 30s to create an advance health care directive, or living will, stating their wishes pertaining to the use of artificial life support. Without an advance health care directive in place, choices about your quality of life are controlled by law and not by you or those you love.

Using Trusts to Protect Your Assets

Many people have the misconception that insurance policies and retirement plans are not considered part of an estate. When you pass away, these funds count toward your total wealth and will be taxed accordingly. You can help to preserve these assets for your survivors by creating an investment trust. Insurance and retirement monies protected under a trust of any kind will not be subject to the costly and lengthy process of probate when you pass away.

Have Your Parents Planned for Their Future?

While you consider creating your own estate plan, it may be a good time to discuss making sure your parents have documents in place for their future. If they do not have a will or trust in place, you may have difficultly inheriting upon their passing. Also, it is wise to review an established estate plan from time to time, making certain beneficiary information is current.

Contact Timothy J. Morgan, Attorney at Law

Avoid expensive probate. Contact an estate planning lawyer at the Santa Cruz law firm of Timothy J. Morgan, Attorney at Law, for sensible legal advice and satisfying results.