Seasons of Life
What’s the right age for adults to begin estate planning? In most states, the only legal requirement for a valid will is that a person be age 18 or older and “of sound mind.” As a practical matter, the need for a will and other estate plans starts to arise when a person assumes family responsibilities or accumulates personal wealth sufficient to warrant planning for its distribution. Estate planning needs and goals change over the decades, but there are many ways to incorporate philanthropy into the plans.
|Ages mid-50s to 60s||Ages 70
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The information in the website is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to income tax apply to federal taxes only. Federal estate tax, state income/estate taxes or state law may impact your results.