Last summer we learned that Star Trek actor, Anton Yelchin died in a shocking accident at the age of 27. It was recently announced that he did not have a Will and now his parents have the daunting task of trying to get control of his estate.
One thing we can learn from this tragedy is you are never too young to have a Will.
Educate yourself on your options of the different types of estate planning vehicles available to you, including a Will or Trust. Without being educated, it is your family, which in the case of Anton Yelchin, it is his parents that will have to unravel his assets to determine what he had, and also what money or other assets he will be entitled to in the future.
The painful truth is death does not discriminate. It does not discriminate by age. It does not discriminate by social status. I see this more often than I would like in my practice. I think when we are in our 20s or even 30s, especially when we are not married or have kids we have a feeling of being invincible. But when we hear and see stories like that of Anton Yelchin we realize we are not invincible and terrible accidents can happen anywhere.
At our firm, we are always working on educational articles. We have had many discussions as to how to reach the younger generations to help them understand the importance of having their estate planning documents in place. This is no easy task. As estate planning attorneys we understand the importance of anyone 18 years of age or older NEEDS a WILL, as well as the ancillary documents. These documents include Powers of Attorney, Living Wills, Designation of Guardian, just to name a few. You will find a more comprehensive list in our article, Estate Planning 101.
Remember, having your estate plan in place can save your loved ones time, money and stress.