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Reasons more younger people are considering estate planning

On Behalf of | May 4, 2022 | Estate Planning

For years, many people believed estate planning was only something for older people or those who had a high net worth. Unfortunately, this has resulted in confusion regarding asset distribution, ongoing care in the case of incapacitation and other important issues that would need to be handled.

Today, younger people realize that having an estate plan in place can benefit them in many ways.

A growing surge of estate planning among millennials

In the past three years, people around the country, particularly millennials, have gained a new view on the importance of estate planning. In fact, many of the individuals in this age group have since created a will and other documents that go into an estate plan.

Some of the reasons these individuals were encouraged to make these plans were a concern for their health care, children and pets. Even millennials with minimal assets and net worth are encouraged to create these estate plans.

The importance of estate plans for all ages

Estate plans do much more than just outline how to distribute your assets when you pass. They include health care instructions, guardianship wishes and more. Along with protecting your family, having an estate plan will give you peace of mind that your family and loved ones will be taken care of even after you pass.

Don’t wait to create your estate plan

Unfortunately, there’s no way to know what the future holds. Because of this, it’s best to be prepared and protect your family and estate by having an estate plan created. While there are online options to take a DIY approach to the process, it’s best to work with someone who has experience with the law in the state to ensure the documents are completed properly.