Estate Planning For Young Adults In Ohio
An estate plan is the best gift you can give to the newly-minted adult in your life.
Why Do Young Adults Need An Estate Plan?
It’s never too early for folks to start thinking about legacy planning, but this definitely won’t be top of mind for young adults unless you show them the way.
The earlier young adults start the process, the more power they have over their impact on the world. That’s why the Estate Planning for Young Adults program exists — to empower 18 to 26-year-olds to take a proactive approach to estate planning as early as they can.
Bring Me To Speak To Your Organization
For young adults getting their first taste of adulthood, estate planning offers a prime opportunity for them to understand what they need to decide, how they make those decisions, and when those decisions should be made. As an estate attorney and proud mom of two, I’m uniquely positioned to have these conversations with both parents and kids.
Planning For The Future For Your Kids, With Your Kids
As a parent, setting my children up for success is my number one priority. I want them to have the tools to create an estate plan that’s true to their values — and I want them to know those values are being honored in my own legacy, too.
When your children are included in your estate planning process, they know what to expect when it’s time to act on that plan. If you need support in talking about your legacy to those who will carry it on, my team and I would be honored to be part of your journey.
Estate Planning 101: What Young Adults Need To Know
For those new to the world of estate planning, here are some basic — and important — terms to know:
Trusts and wills
Both of these documents legally confirm that your wealth and assets will be given to a loved one of your choice. A will outlines how your wealth gets distributed after your passing, while a trust can go into effect immediately.
Financial power of attorney
Decide who gets to make your financial decisions when you’re no longer able to. This is also called a General Power of Attorney or a General Durable Power of Attorney.
HIPAA Release & Healthcare Power of Attorney
Also referred to as an Advanced Healthcare Directive, typically included in a living will, this document gives an agent (loved one) of your choice the power to make healthcare decisions for you.
When Should Young Adults Consider Estate Planning?
It’s easy for us to say you should start thinking about estate planning at any age. But what are some signs that you’re actually ready to take that first step? If you answer yes to any of these questions, the right time is now.
- Did your child or children move out of your home for the first time?
- Does your child or children have their own bank account and/or credit card?
- Have they taken out student loans?
- Do you have a health condition?
- Do you run your own business?
Meet Kori Whisenant
The estate planning process doesn’t have to be a heavy burden. I became an estate planning attorney so that families like yours don’t have to go through it alone. Before getting my law degree, I obtained a Bachelor of Arts in Psychology. I’m proud to bring my unique perspective to my clients, considering all of your needs as a whole person. Estate planning can be a complicated path to navigate, but as someone who knows the road well, I’m happy to lead the way.
FAQ About Estate Planning For Young Adults in Ohio
What does estate planning for 18-year-olds look like?
Why is estate planning important for young adults?
How old do you need to be to have an estate plan?
Take Charge of Estate Planning with K.E. Whisenant Law
Your job is to take that first step. My job is to make sure you feel seen and heard as you lead the way.