Elder law planning implies with its very name that it is a service most associated with the elderly. However, thinking about this process is something you only need to consider after you reach age 65 could set you and your loved ones up for unnecessary conflict and stress.
While many of the issues discussed in elder law do primarily apply to those approaching or past retirement, this isn’t the only demographic of people who should be invested in making an elder law plan.
Elder planning truly fits the needs of people at various different ages and stages in their life. This is because as life events change, you can make alterations to your plan. A power of attorney, one of the cornerstones of an estate plan and an excellent way to protect yourself in older age, can be signed as soon as you reach age 18.
Other documents that can be important for younger people include health care proxies and living wills. These advanced directives help to name what happens if and when someone becomes incapacitated. Incapacitation or disability can truly happen at any age.
A terrible accident or a critical illness can derail a young person’s life and having these documents in place can make it that much easier for their chosen agents to act. These advanced directives name the people who make financial, legal and medical decisions on your behalf. Elder law documents will adjust and adapt with you as you get older but having them created already will give you peace of mind.
