PNC Insights
June 20th, 2025
Creating an estate plan can protect your family’s finances. Learn why it is important for young families to get an early start on estate planning.
It is certainly true that the years spent raising children, progressing in your career and attending to the routine activities of daily life are some of the busiest that you will ever experience.
Nevertheless, being busy should not be an excuse for failing to plan. Americans live active lives and accidents do happen.
Having a power of attorney, healthcare power of attorney and living will makes someone available to manage your affairs, including your medical treatment, while you are incapacitated and, if the worst happens, convey your instructions regarding how to handle medical care at the end of life.
You should revisit your estate plan any time you have a major life event, such as a birth, death, marriage, or other change in family circumstance. Aside from those events, routine review of your estate plan with an advisor every 3 to 5 years can help ensure the plan reflects your current wishes.
Creating an estate plan that is aligned with your family’s goals and objectives can protect your family’s finances and safeguard your family’s future should an unexpected event derail your plans. For parents with a young family, even though death is hopefully a long way off, planning for this eventuality is important for a variety of reasons.
