Estate Planning for Millennials
Millennials are growing up and doing so fast, and as we all know, young adulthood is full of important milestones. Florida millennials are now graduating from college, landing their first “adult” jobs with benefits such as 401k matching, life insurance, and pension plans. This generation is now starting to make big decisions such as buying homes and starting families. Now is the time that millennials should start to begin estate planning.
Estate planning has the stigma of being something that only the elderly and the terminally ill consider. However, estate planning is much more effective when started at an early age. No one can predict the future, and every person benefits by having a will, trust, and a power of attorney.
The great thing about estate planning is that you can adapt and change the plan as needed. You don’t need to wait until you are married and have children to create the plan. Moreover, you still have many friends, loved ones, and relatives that you may wish to pass assets or control your financial and health care decisions if you become incapacitated. If you ever become married, divorced, or have children the estate plan can always be modified.