When should you get an estate plan? Estate planning isn’t just for the wealthy or the elderly; it’s for anyone who owns anything more valuable than a houseplant. The right time to create a plan is whenever you have someone or something you’d rather not have a courtroom decide.

For young adults (20s–30s), start if you have debts, student loans with cosigners, a partner, or children. A simple will, beneficiary designations, and powers of attorney can prevent legal confusion and ensure medical decisions follow your wishes — and avoid your parents arguing over who gets your concert t‑shirts. Young parents should name guardians for minors and set up a basic trust if you want to prevent Aunt Ruth from turning your inheritance into Monopoly money.

In midlife (40s–50s), as assets accumulate—home equity, retirement accounts, business interests—your planning should get more formal. Update beneficiary designations, consider a revocable living trust to avoid probate, and use durable powers of attorney and advance healthcare directives to cover incapacity. Think of these documents as a user manual for adulthood: “If I’m out of commission, here’s how to unplug the Wi‑Fi and avoid selling the dog.”

Approaching retirement (60s+), prioritize tax planning, legacy goals, and long‑term care strategies. Irrevocable trusts, gifting strategies, and charitable plans can preserve wealth and reduce estate taxes. Review retirement account beneficiary choices and coordinate distributions — and decide whether your secret cookie recipe gets passed down.

At any age, major life events (marriage, divorce, childbirth, starting a business, major inheritance, moving states) require updates. Incapacity and sudden death happen unexpectedly; having documents in place prevents court interventions and family soap operas.

Moral of the story:

Create a will, name guardians and beneficiaries, set durable financial and medical powers of attorney, and keep documents updated after major life changes. Consult an estate planning attorney for complex assets, but don’t let complexity stop you. Even a basic plan is better than none (and far better than leaving everything to chance and your nosy cousin).