Isn’t estate planning for the elderly or the ultra wealthy?

It’s a common misconception that estate planning is something that’s just for the ultra wealthy or maybe the elderly. That is entirely not the case, however. We all have an estate. Whether we have a hundred dollars to our name, a hundred thousand dollars, or a hundred million dollars, we all have an estate. It’s up to us, if we have a plan, to determine where those assets are going to go someday. When we think about ages, younger people also have things that they need to protect, not just financial assets. It may be making sure that there is a guardian in place and possibly a trustee to take care of assets for minor children.