Is estate planning only for the rich or elderly?

One common misconception is that, if you are young and not too wealthy, you don’t really need an estate plan. The truth is, everyone has an estate, regardless of wealth, so everyone needs an estate plan. Your estate is made up of your personal property, bank accounts, retirement accounts, life insurance policies, and real estate.  All of these possessions can disposed of through a will or trust.  If you don’t have a will or trust, on the other hand, the probate court will decide who get your property after your death.  Most clients would rather make those decisions for themselves.  Creating an estate plan is the easiest way to do that.  Whether a will or trust is best for you is something you should discuss with an experienced and qualified estate planning attorney.