Who Should Have an Estate Plan?

Nevada attorney Stephanie Hartman Rojo of Stone Law Offices, Ltd. discusses Who Should Have an Estate Plan? here:

Estate planning isn't a one size fits all concept. In fact, there are a number of estate planning strategies available depending on the client's needs.

A single, 18 year-old just beginning his/her education or career will have drastically different estate planning needs than a married couple closing in on retirement age, with detailed instructions for their beneficiaries.

Age is only one determining factor. Before making a recommendation for which level of planning is most prudent, estate planning attorneys need to understand: 1) where you are in life (age, family, net worth, wishes, etc.); 2) who you'd like to have step in to manage healthcare decisions as well as financial decisions; 3) what your intentions are in the event you become incapacitate or pass away; and 4) what's your contingency plan in the event plan a, b, or c, fails.

Even so, there are foundational estate planning documents that most adults (18+) should have, for example: Healthcare Power of Attorney, HIPAA Authorization, and Financial Power of Attorney. Establishing these documents can help circumvent the need for an unwanted guardianship in the event of a health crises or other unexpected incapacity situation.

Want to learn more about your estate planning options and receive a recommendation tailored to your specific situation in life? If you're 18 or older, please don't hesitate to reach out to Stone Law Offices, Ltd. at 702-998-0444 to schedule a consultation with an estate planning attorney. 

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