I have a $5.3 million net worth and have $750k retirement saved up - is it time for me to get an estate attorney?

The Reddit poster, a mid-thirties parent with a net worth of $5.3 million and three young children, is contemplating whether to consult an estate planning lawyer. Given his circumstances, experts strongly recommend that he act promptly rather than delay until his 50s or 60s. Estate planning is critical, not only for naming a guardian for young children but also for ensuring their financial needs are met. Without a plan, custody and asset management would be left to the courts, which may not align with his wishes.

Estate planning is always important for parents of young children. In this situation, it's pretty clear that the OP needs to talk with an estate planning attorney now, not when he is in his 60s.

Any parent with young kids should have an estate plan in place because they need to name a guardian for their children and ensure there is a plan to provide for them.

Read at 24/7 Wall St.