How to ease your kids into estate planning
By ELIZABETH AYOOLA of NerdWallet
People often assume estate planning starts when you’re rich, have a family or are elderly, but it can begin as early as your late teens. Parents can start the conversation by explaining their own estate plan and why it’s important to have one. This helps younger children understand they’ll be cared for no matter what happens. As their children grow older, parents can provide more specifics about their estate plan and the documents included and eventually assist adult children in developing their own plans. For instance, young adults can start with a power of attorney, in case they need someone to make health care decisions on their behalf.
