Ages 40 and Younger

Individuals in this age group have many financial challenges:

  • Paying off college loans
  • Purchasing a home
  • Making contributions to retirement plans
  • Getting established in a career or business
  • Starting a family
  • Building a financial safety net
  • Establishing a college fund for their children

As a starting point, members in this age group need wills to dispose of assets and to name guardians for minor children.  Life insurance and disability insurance play important roles in protecting family members.  Along with these, a trust funded with insurance can provide financial management for children in the event both parents were to pass away.

Other documents to consider as part of a complete estate plan:

  • Healthcare directives to make known wishes concerning life-sustaining treatment
  • Health care proxy, naming a person to make health care decisions on another's behalf
  • Powers of attorney, allowing financial decisions to be made in the event of disability

Philanthropy can be important to people of all ages, although the particular method of giving will vary, depending on age, assets, family needs and charitable goals.  People in this age group may want to consider:

Ages 40
and younger		 Ages 40s
to mid-50s		 Ages mid-50s
to 60s		 Ages 70
and older

Please contact us for more information on any of the ideas above.