--- title: "Do I Need Estate Planning in My 20s and 30s?" description: "You are young, healthy, and building something. Here is why founders and young professionals still need an estate plan, and the few documents that matter most." lang: en json-ld: | [ { "@context": "https://schema.org", "@graph": [ { "@type": "LegalService", "@id": "https://jacobslegacycounsel.com/#legalservice", "name": "Jacobs Legacy Counsel", "alternateName": [ "Legacy Counsel by Jacobs Counsel", "Jacobs Legacy" ], "url": "https://jacobslegacycounsel.com", "description": "Fixed-fee estate planning for high-net-worth families, founders, executives, and professional athletes. 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Here is why founders and young professionals still need an estate plan, and the few documents that matter most.", "author": { "@type": "Person", "name": "Drew Jacobs, Esq." }, "publisher": { "@type": "Organization", "name": "Legacy Counsel by Jacobs Counsel LLC" }, "datePublished": "2026-06-28", "dateModified": "2026-06-28", "mainEntityOfPage": { "@type": "WebPage", "@id": "https://jacobslegacycounsel.com/estate-planning-in-your-20s-and-30s" } }, { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [ { "@type": "Question", "name": "Do I need an estate plan if I do not own much?", "acceptedAnswer": { "@type": "Answer", "text": "Probably yes, but not for the reasons you would expect. Even with few assets, powers of attorney protect you if you are incapacitated, and they are the part most young adults are missing." } }, { "@type": "Question", "name": "Is a will enough, or do I need a trust?", "acceptedAnswer": { "@type": "Answer", "text": "A will is enough for many young adults. A trust becomes worth it once you own a home, own a business, have children, or want privacy and to avoid probate." } }, { "@type": "Question", "name": "I just started a company. What should I have in place?", "acceptedAnswer": { "@type": "Answer", "text": "At minimum, powers of attorney and a will, plus a plan for what happens to your equity and who can keep the business running if you cannot. Your estate plan should line up with any co-founder or buy-sell agreement." } }, { "@type": "Question", "name": "My parents have a plan. Does that cover me?", "acceptedAnswer": { "@type": "Answer", "text": "No. Once you are an adult, their documents do not give them authority over you, and their plan does not address your assets, your business, or your wishes." } }, { "@type": "Question", "name": "How much does this cost?", "acceptedAnswer": { "@type": "Answer", "text": "Less than most people assume, and often a flat fee for the core documents. See how much estate planning costs in 2026." } } ] } ], { "@context": "https://schema.org", "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://jacobslegacycounsel.com/" }, { "@type": "ListItem", "position": 2, "name": "Estate Planning IN Your 20S And 30S", "item": "https://jacobslegacycounsel.com/estate-planning-in-your-20s-and-30s" } ] } ] --- A Practice of [Jacobs Counsel LLC](https://jacobscounsellaw.com) Serving NY · NJ · OH — Vol. 2026 [Legacy Counsel ](/) Firm Resources Estate Planning Trusts [Probate & Admin](/probate-trust-administration)[Pricing](/pricing)[Book Call](https://cal.com/drewjacobs/estate-planning)[Start Intake](/get-started) Menu 1. [Home](/) 2. Estate Planning IN Your 20S And 30S 1. [Home](/) 2. [Blog](/blog) 3. Do I Need Estate Planning in My 20s and 30s? Estate Planning · Founders & Young Professionals # Do I Need Estate Planning in My 20s and 30s? Quick answer Yes, in most cases. Estate planning in your 20s and 30s is less about death taxes and more about control. The moment you turn 18, your parents lose automatic authority over your money and medical decisions. If you own a business, have a partner or kids, own property, or simply want a say in who decides for you in an emergency, you need a plan. For most young people, that means a will, financial and healthcare powers of attorney, and updated beneficiary designations. Founders and homeowners often need a trust on top of that. Drew Jacobs, Esq. Legacy Counsel by Jacobs Counsel LLC Published June 28, 2026 Last updated June 28, 2026 8 min read ## "I'm young and healthy. Why would I need this?" Because estate planning is not only for death, and it is not only for the wealthy. It answers a more immediate question: if you could not speak for yourself tomorrow, who decides, and how? A car accident, a medical emergency, or a sudden illness can leave anyone unable to manage their own affairs for a while. Without a plan, your family may have to go to court to get permission to help you. That is the situation planning prevents, and it has nothing to do with age. ## The gap most people miss at 18 Once you are a legal adult, your parents no longer have automatic authority to make decisions for you. If you are 22, in the hospital, and unable to communicate, your parents cannot simply step in to handle your bank account or get full information from your doctors. They may need a court order. Two documents close that gap: - A financial power of attorney lets someone you trust manage money and accounts if you cannot. - A healthcare power of attorney and advance directive let someone make medical decisions and tell doctors what you want. These two documents are the highest-value, lowest-cost part of planning for a young adult, and most people in their 20s do not have them. ## Why founders need a plan earlier than most If you started or co-own a business, your estate plan and your company are connected, whether you have addressed it or not. - Continuity. If you are incapacitated, who can sign, pay people, and keep the company running? Without authority in place, the business can stall fast. - Ownership. What happens to your equity if you die? Without a plan, it may pass under a court process or default rules, not to the people or in the way you intended. - Co-founder terms. A buy-sell or similar agreement should line up with your estate plan, so your shares do not end up in the wrong hands and your co-founders are not stuck negotiating with your estate. - Investors and value. A company with clear ownership and continuity planning is easier to invest in and worth more. Sloppy structure is a liability. For a founder, planning is not just personal protection. It protects the thing you are building. ### Founder or new professional? A short intake tells us what you actually need — usually fewer documents than you think, set up the right way. [Start your estate plan](/get-started)[Email us →](mailto:drew@jacobscounsellaw.com) ## What you actually need in your 20s and 30s You probably do not need a complicated plan. You need the right one for where you are. Most young adults should have: - A will that says where your assets go and, if you have children, who raises them. - A financial power of attorney. - A healthcare power of attorney and advance directive. - Beneficiary designations on retirement accounts, life insurance, and bank accounts, reviewed so they match your wishes. These pass outside your will, so they matter more than people realize. Add a revocable living trust if you: - Own a home or real estate. - Own a business or meaningful equity. - Have children and want to control how and when they receive money. - Want privacy and want to keep your estate out of the public probate process. If your life is online, make sure your plan covers digital assets too, including crypto, monetized channels, and accounts with real value. See [what happens to your digital assets when you die](/what-happens-to-digital-assets-when-you-die). ## What about estate taxes? For most people in their 20s and 30s, federal estate tax is not the concern. For 2026, the exemption is $15 million per person, or $30 million for a married couple, and it was made permanent under the One Big Beautiful Bill. The point of planning at this stage is control, guardianship for kids, protection if you are incapacitated, and business continuity, not tax. That said, if you are building real wealth fast, getting the structure right early is far easier than fixing it later. ## New parents: read this part If you have children, the most important reason to have a will is naming a guardian. Without that, a court decides who raises your kids if something happens to you and the other parent. A plan also lets you set up how money is managed for them, so a young child does not receive a large sum outright at 18. ## Key takeaways - Estate planning in your 20s and 30s is mostly about control and protection, not death taxes. - At 18, your parents lose automatic authority, so powers of attorney matter even if you have little money. - Founders need continuity and ownership planning that lines up with their business agreements. - A will, financial power of attorney, and healthcare documents are the baseline for most young adults. - Homeowners, business owners, and parents usually benefit from a trust. ### You are early, but you already have something worth protecting. We build estate plans for founders and young professionals. Not sure what you need? Start with a short intake and we will take it from there. [Start your estate plan](/get-started)[Email us →](mailto:drew@jacobscounsellaw.com) ## Frequently asked questions ### Do I need an estate plan if I do not own much? Probably yes, but not for the reasons you would expect. Even with few assets, powers of attorney protect you if you are incapacitated, and they are the part most young adults are missing. ### Is a will enough, or do I need a trust? ### I just started a company. What should I have in place? ### My parents have a plan. Does that cover me? ### How much does this cost? On this page 1. ["I'm young and healthy. Why would I need this?"](#young-and-healthy) 2. [The gap most people miss at 18](#gap-at-18) 3. [Why founders need a plan earlier than most](#founders) 4. [What you actually need in your 20s and 30s](#what-you-need) 5. [What about estate taxes?](#estate-taxes) 6. [New parents: read this part](#new-parents) 7. [Key takeaways](#key-takeaways) 8. [Frequently asked questions](#faq) This article is educational and not legal advice. Estate planning, right of publicity, and tax rules vary by state and change over time. Confirm how the law applies to your situation with a qualified attorney before acting. Estate Planning & Legacy Counsel Legacy Counsel by Jacobs Counsel. Fixed-fee estate planning, trusts, wills, and generational wealth strategy for high-net-worth families. 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All rights reserved. Attorney Advertising. Prior results do not guarantee a similar outcome. **Jurisdiction.** Drew Jacobs is licensed to practice law in New York, New Jersey, and Ohio . Estate planning is highly state-specific — laws governing wills, trusts, probate, estate and inheritance tax, and asset protection vary materially by jurisdiction. We represent clients whose residence, primary assets, or business interests are situated in NY, NJ, or OH. For matters involving other states, we coordinate with qualified local counsel. Nothing on this site constitutes legal advice or an offer to represent you in a jurisdiction in which we are not licensed.