Are We Too Young for an Estate Plan?

Problem: A young couple with children doesn’t have an estate plan, but their assets may change with future inheritance and acquisitions.

- Myron Friesen

We are 35 years old with three children. We have 160 acres, a few cattle, and a couple of pieces of machinery. We are pretty sure we will both be inheriting some additional land and some cash. We also have some term life insurance on each other. Currently, we have no plan in place. On one hand, we feel too young to do an estate plan, but we also feel a little irresponsible for having children and assets, and no plan in place. What questions will we need to answer to get started? – From A.K.

Solutions:

A.K., yesterday is gone and tomorrow is not guaranteed, so today is a good time to start. Today, you have each other, your children, and some assets. You should prepare to protect and provide for those you care about most.