There are a few common misperceptions about estate planning. “Estate planning is only for wealthy people.” “I’m only 30, I don’t need an estate plan.” And of course, “I don’t have an estate to plan for.” At first glance these reasons might seem logical. After all, estate planning is often presented through the media in regards to multi millionaires and creating trust funds for children. However, there are several reasons why every person over the age of 18 years should create an estate plan.