What to Expect in Your 30’s
We experience several milestones throughout our lives, particularly when we pass from one decade to the next. The responsibilities we carry in our 30’s differ greatly from those in our 60’s. Regardless of our phase in life, we are likely to encounter a host of legal matters. With a Legal Resources Legal Plan, you reap a number of legal benefits and are guaranteed coverage and assistance through each and every phase.
This week’s post focuses specifically on the Legal Life Events of thirty-somethings. The population of newlyweds, first-time homebuyers, and budding professionals are now fully integrated in real-world responsibilities and are ready to tackle life’s most common legal life events.
Millennials are making waves in the traditional expectations of marriage. Not only are millennials getting married at later ages, but they also make up the largest population of the 62% increase of couples considering pre-nuptial agreements. Surveys suggest that millennials are more realistic about divorce than earlier generations and therefore turn to pre-nuptial agreements to protect their assets. The American Academy of Matrimonial Lawyers report protection of separate property, division of property, and alimony as the top three items outlined in pre-marital contracts.
Drafting marriage agreements does require attorney involvement as well as subsequent legal fees. The cost will differ depending on both the complexity of the pre-nuptial agreement and whether it is contested or uncontested.
Buying A Home
Although home sales happen every day, the process of committing to a piece of real estate is daunting, especially for first-time homebuyers. Novice homeowners can be easily overwhelmed by real estate jargon and the intricacies of purchase contracts, closing costs, mortgage points, and other related processes. We encourage thirty-somethings to utilize a real estate attorney when initiating the homebuying process. Legal Resources Members can breathe a sigh a relief, however, as real estate matters are fully covered by the Legal Plan.
Spouses, new parents, or individuals with critical health conditions should seriously consider creating and finalizing legacy documents in their 30s. Legacy documents include wills, medical directives, estate plans, and other legal documents that organize your wishes upon death, illness, or any other determined incidents.
Protect your investments by placing them in a trust. Determine which loved one is willing to serve as your Medical Power of Attorney, and which loved one you trust as the executor of your will. Consider an estate plan to mitigate the risk of probate when its time to sell your real estate. Consulting with an attorney during the creation of such documents is a surefire way to guarantee they are prepared, written, and executed according to your wishes.
Remember that new home you bought? You’re now ready to do some upgrades. Enlisting a contractor to re-tile your kitchen, build a deck, or take down a few trees is a large undertaking. While extended timelines and extra expenses are known to crop up during home renovations, there are the few cases that result in contractor negligence, and subsequently, damages.
An attorney can help hold your contractor responsible for any property damages that resulted from negligent work.
Don’t see your legal matter listed? Calling your attorney is the perfect way to jumpstart your journey toward remediation.