Estate Planning Tips for Gen Zers and Millennials

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Estate Planning Tips for Gen Zers and Millennials

If you’re a Millennial or part of Gen Z, chances are that you’re probably not thinking much about estate planning just yet. But it is an important part of life, and can help protect your family and any assets that you do have if something unexpected happens. 

Here are a few of the most important tips you’ll want to consider so you can get your estate planning off to a great start! Pro tip: try to make sure it stays updated as changes occur in your life (i.e. marriage, children, divorce, career change, etc.).

  1. Get a Healthcare Power of Attorney

Having a healthcare power of attorney can ensure that your wishes are carried out if you have an accident or medical event and can’t advocate for yourself. You can legally name the person you want to make decisions for you.

  1. Create an Information Sheet for Your Digital Assets

From social media accounts to PayPal and even bitcoin, you want to have a record of your usernames, passwords, and other information. Keep it somewhere secure, but make sure it’s complete.

  1. Set Up a Financial Power of Attorney

Having someone you trust make financial decisions for you if you can’t is critically important. Be sure you’re choosing someone you can fully trust with your money.

  1. Name a Caregiver for Any Pets

If you have pets, decide who will care for them in your absence and make sure that person agrees. Then you can legally name them as caregivers, so you know your pets will have a home if something unexpected happens to you.

  1. Designate Any Charity Beneficiaries

If you want to leave money to specific charities, be sure to spell that out in your Will. The name of the charity and how much to give them should be clear and complete.

Remember to make any needed adjustments as your situation changes, so you know your wishes will be honored if something should happen to you. It’s not just about having a Will, although that’s very important, but it’s also about making sure your medical care and other potential needs will be handled the way you want if you’re not in a position to share your wishes.

From estate planning to Trust administration, we help you from start to finish. We work with people and families at all stages of their lives to help protect their futures. Our services are customized to your specific goals and will alleviate your unique concerns. Contact us today to learn more!