When Should I Start Estate Planning?

It is almost never too early to start estate planning, but it can be too late. You can only create an estate plan while you are alive and competent -- meaning you have the required mental capacity. When a terminal illness or degenerative condition affects your ability to think, remember, or communicate your wishes, it could also interfere with your ability to control what happens to your assets after you pass away or designate who makes decisions for you in the event of incapacity. You shouldn’t wait to see if you will be diagnosed with these conditions. Start your estate planning early so you know your wishes will be protected.