When to Begin Estate Planning?
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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