The short answer to this question is “Everyone, age 18 and older needs an estate plan.” It doesn’t matter if you are old or young, if you have built up substantial wealth or if you are just starting out—you need a written plan to keep you in control, not the State of South Dakota, and to protect yourself and those you love.
The Key Takeaways
- Every adult, regardless of age or wealth, needs both a lifetime plan and an after-death estate plan.
- Planning for incapacity will keep you in control and let your trusted loved ones care for you without court intrusion – and without the loss of control and expense of a guardianship or conservatorship proceeding.
- Every adult needs up-to-date health care directives.
- You need to leave written instructions to make sure you are the one who determines who