We’ve heard people say that they can wait to create a will or estate plan. They say they aren’t old enough yet or that they don’t have time — they have to wait until they retire.
Another way of looking at it is that there are sound reasons to make your will or estate plan at any age. Here are a few:
1. Consider the possibility that death may occur by an accident or illness at any age. Even if the odds seem remote today, having a will makes sense in case something unexpected happens.
2. If you have young children or grandchildren that you care for, consider what can happen if you do not have a will and other documents. Your will can nominate a guardian to care for the children and name a trustee to provide financially for them.
3. If you have an extended illness or become disabled, your will and other documents or trust can nominate a conservator or trustee who can make financial, health care, and living decisions for you if you cannot do so.
4. Once you have your documents in place, they can be easily changed. The hard work is taking the first step and creating the plan.
5. Even if you have a small estate, you can (and should) decide for yourself how what you own will be distributed to others and when if something happens to you. This includes designating gifts to charities, like CSULB.
6. Once you make your plan, including your charitable gifts, talking it over with family members, friends or the Office of Gift Planning at CSULB assures that your wishes are carried out properly.
6. Fulfilling this important need feels good at any age. Knowing you have a valid will or trust gives peace of mind to you and to your loved ones. It can lead to a sense of accomplishment and the personal satisfaction that you have handled this responsibility.
The Office of Gift Planning can meet with you and provide you with worksheets to help you record your choices and prepare your documents to give to an estate-planning attorney. He or she will use the worksheets to create your plan. The Office of Gift Planning also can help you design any gift you wish to give to CSULB to assure that future students continue to have opportunities to change their lives through education. You can give us a call at (562) 985-5489 or visit http://www.csulb.edu/giftplanning to get started today.