Karen is 20 years old. She has just graduated from beauty school and is making ends meet by working two retail jobs while looking for a job in her field. She has very little in assets. Ethel is 45 years old and is a junior partner at her law firm. Ethel has been married for almost 20 years and has two children. Which of these two people would benefit from an estate plan?

Ethel, because she has a more complex estate and beneficiaries, as well as fewer years until she reaches her estimated life expectancy.

Both Karen and Ethel, because estate planning is an important step in any financial plan, regardless of the complexity of the persons estate and age.

Karen, because she has more time to develop an estate plan and shield any future income from estate taxes.

Neither Karen nor Ethel, because they are both relatively young and have not had the chance to develop complex estates that would require plans.