Is It Ever Too Early to Get an Estate Plan?

Marc Cusano: Tim, I was recently asked by a woman who’s approaching age 40, “Is this a good time for me to get an estate plan?” And I think my initial reaction and response was, “Well, yeah. I mean, we really believe in estate planning for all stages of life.” But I’m curious as to how you’d answer that.

Tim Borchers: Yeah, 40 is a time when a lot of people have started their families. They own their own home. They may have their own business, etc. Those things are all important events that should be covered by a plan, because you never know when you’re going to be disabled or when you’re going to die. As long as the plan considers those events and those possibilities, it’s important to get it started as soon as any of that starts to occur to you. And as you know, Marc, it can be as early as age 18. That’s when parents no longer have the ability to do things for their children.

Marc Cusano: Sure, and then all the way up to age 70 and beyond, when we’re talking about long-term care.

Tim Borchers: Right.

Marc Cusano: Yeah, so really every situation is different.

Take a look out our blog post on 10 Essentials for a Comprehensive Estate Plan to learn more.