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When Should You Start Estate Planning?

Most people associate estate planning with retirees, wealthy families, or those facing serious health issues. But in truth, estate planning is something every adult should consider much earlier—ideally before life gets complicated.

At The Lange Firm, we work with Texans at all stages of life to build estate plans that are practical, personal, and protective. In this article, we’ll break down when you should start estate planning, why it matters, and how to make sure your plan evolves as life changes.

The Short Answer: Start As Soon As You Have Something—or Someone—to Protect

Estate planning isn’t just about who inherits your home or your money. It’s about making decisions now so your loved ones aren’t left guessing later. If you have assets, responsibilities, or people you care about, having a plan in place is one of the most thoughtful things you can do.

Why Estate Planning Isn’t Just for the Wealthy or Elderly

Let’s clear something up: you don’t need to be rich or nearing retirement to need an estate plan. Your “estate” simply includes:

• Your home, car, and belongings

• Bank accounts and investments

• Retirement accounts and life insurance

• Debts and liabilities

• Digital assets (like social media or online banking)

• And most importantly—your wishes

Estate planning gives you control over what happens to these things—and who’s responsible for managing them—if something happens to you.

What Happens If You Don’t Have an Estate Plan?

Without a plan in place, Texas law takes over. That might mean:

• The court decides who receives your assets

• A judge chooses a guardian for your children

• Your loved ones go through a lengthy, stressful probate process

• No one can manage your finances or healthcare unless they petition the court

Even if everything “works out” legally, the process can be emotionally and financially difficult for the people you care about. Planning ahead helps avoid unnecessary burdens.

When Should You Start? A Life-Stage Breakdown

To help you figure out the best time to begin estate planning, let’s look at a few common life stages and what makes sense at each point.

🧑‍🎓 Young Adults (18–25)

At 18, you’re legally responsible for yourself. That means no one—including your parents—can automatically make medical or financial decisions for you.

Key documents to consider:

• Medical Power of Attorney

• Durable Financial Power of Attorney

• HIPAA Authorization Form

• A simple will (especially if you own a vehicle, savings, or personal items you care about)

Even if you don’t have many assets, these documents ensure someone you trust can step in during an emergency.

💼 Young Professionals and Couples (25–40)

This is when many people start building their lives—careers, marriages, children, property. It’s also when legal and financial responsibilities multiply.

Documents to add or update:

• Last Will and Testament

• Beneficiary designations on retirement accounts and life insurance

• Guardianship designations for minor children

• Durable and Medical Powers of Attorney

• Possibly a revocable living trust (if you want to avoid probate or provide long-term structure)

If you’ve recently bought a house, started a family, or even adopted a pet, your estate plan should reflect those changes.

👨‍👩‍👧‍👦 Parents and Homeowners (30–50)

By this point, many people have families, mortgages, and assets worth protecting. They may also be supporting aging parents or navigating blended families.

This is a critical stage to:

• Create or update your will

• Set up a trust to streamline asset transfers

• Appoint guardians and back-up guardians

• Plan for incapacity or emergencies

• Address digital assets and online accounts

This stage is often where families realize that a basic will isn’t enough—and they need a more complete strategy.

🧓 Pre-Retirement and Retirement (50–70+)

Approaching retirement is the perfect time to revisit your estate plan and fine-tune long-term decisions.

Consider:

• Reviewing or updating your trust or will

• Making sure powers of attorney and medical directives are current

• Planning for Medicaid eligibility or long-term care

• Finalizing funeral or burial preferences

• Evaluating tax planning strategies for larger estates

At this point, your goals may shift from protecting dependents to simplifying things for your adult children or preserving wealth across generations.

The Benefits of Early Estate Planning

Starting estate planning early provides several advantages:

• Clarity: You’ll have peace of mind knowing your wishes are documented.

• Flexibility: Plans can be updated as your life evolves.

• Protection: You’re covered in the event of an accident or illness, not just death.

• Efficiency: Avoiding probate or minimizing court involvement saves time and money.

• Family Harmony: Clear instructions reduce the risk of confusion or conflict later.

Think of it as future-proofing your life. You’re setting things up so your family isn’t left scrambling.

How Often Should You Review Your Estate Plan?

An estate plan isn’t a one-and-done kind of thing. We recommend reviewing it every 3–5 years, or anytime you experience a major life change, such as:

• Marriage or divorce

• Birth or adoption of a child

• Buying or selling property

• Starting or ending a business

• Death in the family

• Moving to another state

• A change in health or finances

At The Lange Firm, we help clients revisit their plans regularly so they stay up-to-date and effective.

What Documents Are Typically Included in a Texas Estate Plan?

Here’s a quick checklist of documents most Texans include:

• ✅ Last Will and Testament

• ✅ Revocable Living Trust (if appropriate)

• ✅ Durable Power of Attorney

• ✅ Medical Power of Attorney

• ✅ Advance Directive (Living Will)

• ✅ HIPAA Authorization

• ✅ Guardian Designations

• ✅ Beneficiary Designation Review

These documents work together to protect your assets, your healthcare wishes, and the people you love.

How The Lange Firm Can Help

At The Lange Firm, we specialize in crafting estate plans for real people—not just retirees or the ultra-wealthy. Whether you’re newly married, raising kids, managing a business, or planning your legacy, we’ll:

• Help you clarify your goals

• Explain your options in everyday language

• Customize documents based on Texas law

• Make updates as your life changes

• Offer flat-fee pricing for many estate plans

We believe estate planning should feel empowering, not overwhelming. Our job is to guide you through it with care and clarity.

Final Takeaway: It’s Never Too Early—But It Can Be Too Late

The best time to start estate planning is before you think you need it.

Getting your affairs in order doesn’t mean you’re expecting the worst—it means you’re being proactive, responsible, and thoughtful about your future and your family.

Whether you’re 25 or 75, single or married, just starting out or planning your legacy, estate planning is one of the most important steps you can take to protect what matters most.

Ready to take that step? Contact The Lange Firm today to get started.

For additional estate planning information visit the estate planning home page.