As an estate planning attorney practicing in Castle Rock and the greater Metro Denver area, I’ve guided countless families through estate planning over the past nine years. One question I hear often is when someone should begin this process. Many assume it’s something for later in life, but the truth might surprise you. In this post, I’ll share why starting early matters, drawing from my experience helping clients protect their loved ones. If you’re a parent, young adult, or anyone building a life in Colorado, read on to see how estate planning can bring peace of mind sooner than you think.
Why Age 18 Is the Key Milestone for Estate Planning in Colorado
The age at which you should start thinking about estate planning is when you are legally an adult, which in Colorado is 18. Many people, especially families, are unaware that once a child turns 18, even if you are covering their tuition, rent, and health insurance, you lose the right to their medical information and the ability to make financial decisions on their behalf.
And that’s a shock to many parents of 18-year-olds. But at that point, doctors are not required to speak to you. They don’t care who’s paying the “child’s” bills, because they’re not a child anymore. So, the second your child is, really before your child reaches 18, that’s when that child should be deciding what they’re going to do and what decision makers they’re going to put in place.
In my practice, I’ve seen how this catches families off guard. Young adults heading to college or starting jobs often overlook these details. But simple documents like powers of attorney can ensure parents or trusted individuals step in during emergencies. Without them, you might face legal hurdles just to access basic information or make simply decisions for your loved one.
For Colorado-specific guidance on planning for young adults, check out our estate planning services.
Life Stages That Prompt Estate Planning Beyond Age 18
While 18 is the starting point, certain moments in life make updating or creating an estate plan even more pressing. For instance, if you have a child, you should review your documents. If you get divorced, you should review your documents. We recommend revisiting your existing estate plan any time you experience any significant life change. And also, around every three years, if none of those other significant life things have happened to you.
Getting married, buying a home, or starting a business in Colorado are all triggers. These events shift your assets and responsibilities, and without a plan, state laws decide what happens. I’ve worked with clients who regretted taking no action after a major life change.
Parents of young children can also use their estate plan to make sure their children are cared for if they pass away or become incapacitated and to nominate people to take care of their children when you’re gone.
Common Misconceptions About Why You Need an Estate Plan
Many believe estate planning is only for the elderly or wealthy. Another myth is that young people don’t need an estate plan because they have few assets. But nothing could be further from the trust! Estate planning isn’t just about money—it’s also about directing medical and financial decisions if you can’t speak for yourself. In Colorado, without these directives, courts might get involved, complicating matters for your family.
Taking the First Step No Matter Your Age
The first step a person can take on their estate-planning journey is to schedule a consultation with an attorney who specializes in estate planning. Most attorneys, including those in my office and me, offer 30-minute free consultations to answer all of your questions.
What’s really important to me is that even if people don’t actually move forward with their estate plan, they at least start thinking about it. The most important thing, I think, is that people have some kind of professionally prepared estate plan in place, no matter how basic it is.
Whether you’re 18 or 80, planning now protects your future. At Kokish, Goldmanis, & Greenberg, we make the process straightforward and tailored to Colorado families. Visit our blog for more tips, or contact us to begin your journey today.
