It’s not just for the wealthy, retired, or married. It’s for you, too.
When most people think of estate planning, they picture retirees with significant assets or families planning to pass down real estate, investments, or heirlooms. What rarely comes to mind is an 18-year-old college student, a 28-year-old single professional, or a 35-year-old entrepreneur with no kids.
But here’s the truth that few realize until it’s too late: The moment you turn 18, you need basic estate planning documents.
It’s not about how much money you have; it’s about ensuring that someone you trust can legally speak and act for you in a crisis. It’s about protecting your voice, your decisions, and your peace of mind.
Let’s break down why estate planning isn’t just for the wealthy or elderly and what documents every adult should have in place.
1. Turning 18 Changes Everything (Legally Speaking)
Before age 18, your parents or guardians can legally access your medical records, speak to your doctors, handle your finances, and make decisions on your behalf. But the moment you become a legal adult, those automatic rights go away.
That means if you’re unconscious in a hospital or dealing with a sudden emergency, no one can step in to help, not even your parents, unless you’ve given them legal authority to do so.
Even a simple car accident, unexpected illness, or short-term hospitalization can become a legal headache if no estate documents are in place. Hospitals, banks, and schools won’t talk to anyone about your situation without proper authorization.
2. It’s Not Just About Death; It’s About Incapacity
Estate planning isn’t just about what happens when you die. It’s also about what happens if you can’t speak or act for yourself.
A bad accident, a surgery gone wrong, or a sudden illness like a stroke or seizure disorder can leave someone temporarily or permanently unable to make decisions.
Without legal documents, your loved ones may be forced to go through costly and time-consuming court proceedings to gain guardianship or conservatorship. That process is stressful and avoidable with the right documents.
3. The 3 Must-Have Documents for Every Adult
Whether you’re 18 or 80, married or single, just starting out or well-established, these are the three documents every adult should have:
1. Durable Power of Attorney
This document allows someone you trust to handle your financial and legal matters if you’re unable to. That could include paying bills, managing bank accounts, filing taxes, or accessing insurance on your behalf.
- If you’re out of the country or in the hospital, this document keeps things moving.
- Without it, no one can access your accounts, even to pay your rent.
2. Healthcare Power of Attorney
Also called a medical power of attorney, this document allows someone to make healthcare decisions on your behalf if you’re incapacitated.
- Who should doctors speak to if you can’t speak for yourself?
- Who do you trust to make decisions if you’re unconscious or in surgery?
Without this, your family may be excluded from decision-making or worse, disagree among themselves, leading to conflict and delay in treatment.
3. HIPAA Authorization
This document allows your chosen individuals to access your medical records and information, even if they’re not making decisions for you.
- It can give your family or trusted friend peace of mind during medical emergencies.
- Without it, healthcare providers are legally prohibited from sharing details.
4. Bonus Documents Worth Considering
While the three documents above are essential, there are a few more worth considering depending on your stage of life:
- Last Will and Testament: Even if you don’t have major assets, a simple will ensures that your belongings (bank accounts, personal items, digital assets, etc) go to the people you choose, not according to state law.
- Living Will/Advance Directive: This lets you express your wishes about life-sustaining treatment, resuscitation, feeding tubes, and other end-of-life care decisions so your loved ones aren’t left guessing.
- Digital Asset Plan: Think about your online accounts, social media, cryptocurrency, and cloud storage. Who gets access? Who knows where to find your passwords? A plan helps loved ones avoid digital lockouts.
It’s Not Expensive or Complicated When Done Right
Basic estate planning for young adults doesn’t require complex trusts or tax strategies. For most people under 40 without children or large estates, it’s about covering the essentials. When done with a qualified attorney, these documents are:
- Affordable (often less than a weekend trip or a new smartphone)
- Customizable to your unique situation
- Legally sound, unlike fill-in-the-blank online forms that may not meet Mississippi laws
Whether you’re 18, 28, or 68, basic estate planning is one of the smartest steps you can take. At Lancaster Law Firm, we help individuals across North Mississippi create simple, effective estate plans tailored to their life stage and needs. Contact us today to protect your future and give your loved ones the clarity they deserve.
