EAST PROVIDENCE, R.I. (WPRI) —The pandemic has changed a lot about how we see our health and how we prepare for the future.
This has caused more young people than usual to start thinking about wills and estate plans.
Local financial professional Jeff Massey from Massey and Associates said an estate plan is a plan to manage your assets if you die or become incapacitated. You decide how you want to distribute, preserve and manage your estate.
There are several steps in creating an estate plan and Massey recommends using this time many are still working from home to complete each one.
Whether you’re in your 20s or just a few years from retirement, it’s never too early or too late to start planning.
Here is how you can start building your estate plan:
- Set Up Trusts
- Write a Will
- Decide on a Financial Power of Attorney
- Name a Health Care Power of Attorney
- Advance Healthcare Directive
In the video above, Massey joined 12 News This Morning on a Zoom call to go in-depth about why having an estate plan is so important, and how to start building yours.