• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
  • Services
    • Asset Protection & Business Planning
    • Elder Law & Medicaid Services
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Guardianship & Conservatorship
    • Hospice Care
    • Medicaid Planning
    • Veterans Benefits
  • Seminars
  • Areas We Serve
    • Ballwin
    • Chesterfield
    • Clayton
    • Creve Couer
    • Des Peres
    • Edwardsville
    • Fenton
    • Glen Carbon
    • Glendale
    • Kirkwood
    • Maryland Heights
    • Oakland
    • Sappington
    • St. Louis
    • Sunset Hills
    • Valley Park
    • Webster Groves
  • Resources
    • Asset Protection Worksheet
    • Elder Law Resources
      • Chesterfield Elder Law
      • Fenton Elder Law
      • Kirkwood Elder Law
      • Sunset Hills Elder Law
      • St. Louis Elder Law
      • St. Peters Elder Law
      • Webster Groves Elder Law
    • FREE Estate Planning Seminars
    • FREE Estate Planning Worksheet
    • Frequently Asked Questions
      • Estate Planning
      • Families Without an Estate Plan
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Trust Administration & Probate
    • Is Your Estate Plan Outdated?
    • Medicaid Resources
    • Multimedia
    • Newsletters
    • Presentations
    • Pre Consultation Form
    • Probate Checklist
    • Probate Resources
    • Retirement Planning Checklist
    • Special Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Estate Planning For Niches
      • Trust Administration
  • Reviews
    • Our Reviews
    • Review Us
  • Blog
  • Contact Us

Amen, Gantner & Capriano | Your Estate Matters, L.L.C.

St. Louis Estate Planning & Elder Law Attorneys

Logo
CONNECT WITH US TODAY (314) 966-8077
ATTEND A FREE WEBINAR
Home / Estate Planning / I Don’t Need an Estate Plan until I’m Older and/or Wealthy Right?

I Don’t Need an Estate Plan until I’m Older and/or Wealthy Right?

July 23, 2015

Estate Planning

I don't need an estate planWhen it comes to estate planning, there are a number of common myths and misconceptions that cause people to fail to properly plan ahead as they should. One of the most common of those misconceptions is the often heard “I don’t need an estate plan until I’m older and/or wealthy right?” The truth is that everyone over the age of 18 should have at least a basic estate plan in place. Knowing why should help you to get started on yours if you have yet to do so.

One reason people often believe that an estate plan isn’t necessary unless they have a considerable fortune is that they fail to understand all that an estate plan can accomplish. While it is true that an estate plan can serve as the roadmap for the distribution of estate assets after your death, and that the more assets you have the more important an estate plan becomes, that is not all an estate plan can do for you and for your loved ones. Just a few of the additional goals and objectives an estate plan can accomplish include:·

  • Incapacity planning – incapacity can strike at any age and does not discriminate with regard to wealth. If you suddenly become incapacitated who will manage your assets? Who will pay your bills? Who will decide what medical treatment you receive or don’t receive? Who will decide where you will be treated or even where you will live? Unless you have an incapacity plan in place a court may have to decide who will make these decisions and who will control those assets you do have.
  • Medicaid planning — when you reach your “golden years” there is a very good chance you will need to qualify for Medicaid to cover the high cost of long-term care. If you fail to plan ahead you may lose those assets you have managed to accrue during your lifetime, modest as they may be.
  • Parent of minor children – if you are a parent, your most valuable asset is your child. Your Last Will and Testament is the only opportunity you have to tell a judge who you want to be that child’s legal guardian should one be needed some day. Your estate plan is also the only way you have to plan for the care and maintenance of your child should something happen to you.
  • Pet planning – if you have a pet that you consider to be part of the family you likely want to ensure that he/she is well cared for should something happen to you. Incorporating a pet plan into your estate plan can accomplish this easily, giving you peace of mind.
  • Business succession planning – if you own a small business you likely want to ensure that it is passed down to the next generation or that the proceeds of the sale are used to provide for your loved ones should something happen to you. Unfortunately, 80 percent of small businesses don’t make the transition to the next generation because the owner’s failed to plan ahead.

Don’t fall victim to the misconception that you must be wealthy and/or reached a certain age before an estate plan is needed. Contact the experienced Missouri estate planning attorneys at Amen, Gantner & Capriano, Your Estate Matters, LLC by calling (314) 966-8077 to schedule an appointment today.

 

  • Author
  • Recent Posts
Paul Gantner
Paul Gantner
I am an owner of Amen, Gantner & Capriano, Your Estate Matters, L.L.C. I have been able to bring my business and legal education and experience into a firm that has for many years provided comprehensive estate plans that meet clients’ needs and expectations.My passion has been creating and constantly pushing AGC’s mission of “Helping Families Secure their Legacies by Embracing them into the Law Firm Family through Long-term, Personal Advisory Relationships.”
Paul Gantner
Latest posts by Paul Gantner (see all)
  • Lessons from Patagonia - January 5, 2023
  • Planning for the “Silver Tsunami” - December 29, 2022
  • More than Just Salad Dressing: The Ongoing Saga of Newman’s Own Foundation - December 22, 2022

Filed Under: Estate Planning

Other Articles You May Find Useful

Now That Mid-Terms Are Over, Let’s Talk Taxes
Refresh and Reset: Syncing up in San Diego
Planning for the “Silver Tsunami”
More than Just Salad Dressing: The Ongoing Saga of Newman’s Own Foundation
Understanding Undue Influence – Part II
Understanding Undue Influence – Part I

About Paul Gantner

I am an owner of Amen, Gantner & Capriano, Your Estate Matters, L.L.C. I have been able to bring my business and legal education and experience into a firm that has for many years provided comprehensive estate plans that meet clients’ needs and expectations. My passion has been creating and constantly pushing AGC’s mission of “Helping Families Secure their Legacies by Embracing them into the Law Firm Family through Long-term, Personal Advisory Relationships.”

Primary Sidebar

Download our free Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.
  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • twitter
  • linkedin
  • youtube

Blog Subscription

  • This field is for validation purposes and should be left unchanged.

Where We Are

Amen, Gantner & Capriano
10733 Sunset Office Drive, Suite 425
St. Louis, MO 63127

See Larger MapGet directions

Office Hours

Monday8:30 AM - 5:00 PM
Tuesday8:30 AM - 5:00 PM
Wednesday8:30 AM - 5:00 PM
Thursday8:30 AM - 5:00 PM
Friday8:30 AM - 12:00 PM

Map

map for Amen, Gantner & Capriano Your Estate Matters office
  • Advantages of Working With Our Firm
  • About The American Academy
  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Footer

Connect to us

  • Facebook
  • twitter
  • linkedin
  • youtube
footer-logo

© 2023 American Academy of Estate Planning Attorneys, Inc.

Amen, Gantner & Capriano,
Your Estate Matters, LLC

Attorney Advertisement