Don’t think about gray hair and retirement when you think about estate planning. Estate planning is for anyone who wants to have control over their life, their family and their legacy, according to a recent article in the Washington Blade: “You can’t predict the future, but you can protect it.”
There are so many things in our lives and in the world that we cannot control. Estate planning is one area where you can control what happens to the people and property in your life.
Estate planning is essential for people of all ages and wealth levels. Young adults may not realize that once they turn 18, their parents can no longer make medical or financial decisions for them. A Financial Power of Attorney and a Healthcare Power of Attorney ensures that someone they know and trust can step in to make decisions for them in a crisis.
For families raising children, having a Will including a guardianship provision is essential. Without a properly prepared Will naming a guardian, a court decides who will raise the children. They could be split up, placed with relatives with different values, or made to move far from their homes.
Couples, married or not, need clear estate planning to be sure their partner has full legal authority to act if one of them is incapacitated.
Estate planning begins early and evolves throughout life, and a review should always accompany significant changes. A great plan at age 30 may no longer work at 55. Marriage, death, birth and divorce are just a few life events calling for an estate plan update. Tax and estate laws change frequently, and failing to keep an estate plan up to date could lead to missed opportunities or worse, an invalid Will.
A comprehensive plan is far more than a simple Will. A Power of Attorney for financial decisions, healthcare directives for medical choices and, possibly, trusts to manage assets efficiently should all be discussed and created with the help of an experienced estate planning attorney.
An often-overlooked aspect includes reviewing beneficiaries named on retirement and pensions, life insurance policies and any accounts with a beneficiary designation option. An outdated designation overrides the directions in the Will. Assets could end up in the hands of an ex-spouse or a person who isn’t part of your life, regardless of what is in your Will.
Everyone needs to have an estate plan, even those who think they are too young or think their assets aren’t significant enough to warrant one. Knowing you’ve protected yourself and your loved ones is invaluable. Waiting until gray hair emerges makes those who count on you the most vulnerable.
Reference: Washington Blade (Oct. 5, 2025) “You can’t predict the future, but you can protect it”
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