How Poor Planning Cost a Young Adult Their Inheritance

Emma was just 22 years old when she lost both of her parents in a tragic accident. As their only child, she was supposed to inherit everything—her parents’ home, savings, and retirement accounts—assets totaling nearly $500,000. However, because her parents had never created a proper estate plan, their assets were left to be sorted out in probate court.

Since there was no trust in place and only a basic will, Emma’s inheritance became tangled in legal fees, creditor claims, and court delays. To make matters worse:

• A large portion of her parents’ assets went to probate attorneys and court costs, reducing what Emma got significantly.
• Creditors were able to make claims on the estate, draining even more of her inheritance.
• As a young adult with no financial guidance, she received a lump sum of the remaining funds, spent recklessly, and was left with nothing within a few years.



Had her parents set up a trust, Emma could have avoided probate, kept more of her inheritance, and received structured distributions over time—ensuring financial security instead of sudden loss.

This story is a painful reminder that estate planning isn’t just for the elderly—it’s a crucial step in protecting the next generation from financial disaster. Don’t leave your family’s future to chance—plan ahead. Your loved ones deserve security, not stress.

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At the Smith Law Firm, we create comprehensive estate plans for our clients every day. Start by booking a Peace of Mind Planning Session! We can meet in person or via Zoom. We’ll answer your questions, explain your options, and share our unique flat fees and process for getting started. The session is normally $275; mention this blog and we’ll waive the fee!

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