Estate Planning

At Ava Li Law PLLC, we often hear, “Do I really need an estate plan?” The answer is simple: yes! Estate planning isn’t just for the wealthy or elderly—it’s essential for anyone who wants to ensure their assets and personal wishes are honored, no matter their age or financial status. Recent studies show that only 32% of Americans have a will or estate plan in place​. Many mistakenly believe they don’t have enough assets to justify planning. However, estate planning covers more than just wealth—it ensures your healthcare decisions, guardianship for children, and financial matters are managed according to your wishes. 

• For young adults aged 18-34, about 24-26% have already started estate planning​. It’s crucial for this group to plan for unexpected events, such as incapacitation, by having documents like a power of attorney or healthcare proxy in place.
• For middle-aged adults (35-54), about 27% have a will​, a key step in protecting their growing families and assets.
• Among those aged 55+, 45% have taken steps to create an estate plan​. This is particularly important as they approach retirement and need to protect their wealth and make end-of-life decisions.
• Notably, for those aged 72 and above, 81% have a plan in place​, reflecting the necessity of preparing for legacy and care in the later stages of life.

Estate planning is not just about distributing assets—it’s about taking control of your future. No matter your age or financial situation, having an estate plan means protecting your loved ones and making sure your personal and financial decisions are honored.