When most people hear “estate planning,” they imagine something reserved for the elderly. In reality, estate planning is a crucial step for anyone, regardless of age, income, or family size.

At its core, estate planning ensures your wishes are fulfilled if something happens to you. It includes key documents like a will, a power of attorney, and a healthcare directive. These tools can help avoid legal confusion, reduce stress on loved ones, and ensure your voice is heard, even if you’re unable to speak for yourself.

Having a plan in place can be especially important in a medical emergency. An advance directive combines a living will (documents how you want your medical care handled) and a healthcare power of attorney (allows a trusted person to make medical decisions on your behalf). An advance directive ensures your healthcare is according to your wishes and protects your family from making difficult decisions regarding your medical care.

A will allows you to designate how your assets are distributed to your loved ones. Without a will, the distribution of your assets is according to the state statute, which may neglect a loved one, such as a close friend. For adults with children, a will can also designate guardianship and protect their future. A will offers peace of mind that assets will be distributed according to their wishes, minimizing disputes and reducing the burden on their family.

Whether you’re 25 or 75, creating or updating an estate plan is one of the most thoughtful gifts you can give your loved ones. It’s not about having a lot, it’s about protecting what matters most.