Many young adults think they are too young and too healthy to start thinking about estate planning. However, once a person turns eighteen (18), parents lose the legal ability to make decisions for them, or even to find out basic information. At a minimum, a young adult should have an Advanced Health Care Directive and a Durable Power of Attorney, naming a trusted loved one who will make medical and financial decisions for them in the event that they are unable to do so themselves. Even if the young adult has not accumulated considerable assets, a simple Will is also an important planning tool because it will designate who you would like to inherit from you, rather than leaving it up to the State.
