Drafting wills and trusts sounds complicated, but it can actually be relatively simple, especially if you start while young. Creating an estate plan in your twenties or thirties and then updating it as needed is far easier than starting one after accumulating a considerable amount of property. There are also a few scenarios in which it is essential to think about wills and trusts regardless of age. 

When Your Personal Circumstances Change 

If you do not have a will upon getting married, draft one as soon as possible. Then, simply review and update it every time you experience another life transition. Examples include adopting pets, having children, and getting divorced. If you do not have a will by the time you have children, create one after your first child is born. And if you end up getting divorced and still don’t have a will, use the transition as motivation to make one. Although it’s never too early to create an estate plan, it’s never too late, either. Consider drafting a will at the next possible opportunity, and then update it following every life transition. 

When Your Financial Circumstances Change 

Every major financial milestone should prompt you to create a will if you haven’t already. Ideally, everyone would think about wills and trusts upon landing their first job, whether enlisting in the military after high school or joining a tech startup after college. Though, people often wait for other financial milestones to start drafting their will. Examples include receiving an inheritance, buying a home, funding a retirement account, and starting a small business. 

If you’re ready to create a comprehensive estate plan, turn to My Legal Team Inc. in Signal Hill, CA, for guidance. After evaluating your particular circumstances, they will explain what you need to know about wills and trusts and help you draft all essential documents. With more than three decades of combined experience, their licensed and insured team serves clients throughout Los Angeles County. Visit their website to learn more about the unparalleled counsel they provide, and then call (562) 479-0900 to schedule a legal consultation with a probate attorney today.