Creating an estate plan likely is not at the top of your list of things to do. There are many young adults who believe they have plenty of time to start their estate plan. Additionally, some people think that they do not have enough wealth to distribute leaving little reason to spend the time. The truth is that there is never a wrong time to start planning your estate and you do not need to be wealthy to have one.
Estate planning is something that too few Colorado residents have taken the time to do. They all have their reasons for ignoring it or putting it off, but it is not something one should ignore forever. It is always better to make sure one's wishes are known and assets are protected in the event of one's death. Some people may be confused about the best way to go about it, however. For example, a will or a trust, which is best?