As a young adult in Juneau, you’re likely focused on building your career, paying off student loans and planning your next adventure. You might think estate planning is something only older adults need to worry about, but the truth is that every adult can benefit from having a plan in place.
Even without kids or significant wealth, you have important assets and wishes that deserve protection.
Advance directives keep you in control
Advance directives are legal documents that outline your health care wishes if you become unable to communicate them yourself. This includes a living will, which outlines your medical preferences if you become unable to communicate. It’s essential to think about what kind of medical treatment you would want, and who you would like to make decisions for you if you can’t make them yourself.
These documents ensure your medical care aligns with your values. Without them, Alaska state laws determine who makes these critical decisions—possibly someone who doesn’t know your wishes.
Wills protect more than just money
A will isn’t just for those with significant assets. It’s also for anyone who wants to control who gets their things after they’re gone. Consider these factors when creating your will:
- Digital assets: Decide who will manage your social media accounts and digital files.
- Pets: Ensure someone will care for your furry friends.
- Personal items: Specify who should receive sentimental items.
These elements help your loved ones understand your wishes.
Powers of attorney prevent financial headaches
Powers of attorney appoint someone to handle delicate matters on your behalf if you are unable to make sound decisions. This person can:
- Pay your bills and manage your bank accounts
- Manage your property
- Make investment decisions
- Handle tax matters
- Deal with insurance claims
Without this document, your family might need court approval to manage your finances—a costly and time-consuming process.
Protection at any age or stage
Estate planning isn’t about age or wealth—it’s about taking control of your future. By putting these basic protections in place now, you can feel confident that others will understand and uphold your wishes and protect your assets—both financial and personal— no matter what the future holds.