Estate Planning: Why 30-Something Millennials Should Think About It

Millennials ready for their estate planningNobody plans to die, but everyone will, eventually. Estate planning is perhaps the last thing Millennials think about, or even know about. However, it’s actually cool to put things in order while you can. It doesn’t matter if you’re not super rich or don’t have a lot of wealth for your relatives or friends to inherit. An estate plan gives you the freedom to do many things when you’re gone, including the following:

Making Your Loved Ones Probate-Proof

Probate applies to all. This process gives the court the power to distribute anything you own after you pass away. If you have no estate plans stating who receives what, then the state would decide on your behalf. However, if probate seems convenient, any San Francisco, Houston, or Denver estate planning attorney would say that it doesn’t always provide fair results. In fact, many people do estate planning ASAP to avoid it.

Protecting Your Privacy Online

An estate plan allows you to handpick who will take over your digital assets at the time of your passing. Without a federal law forcing social networking sites to delete the account of someone who dies, estate planning lets you bestow relinquishing control over your social media accounts on the people you trust. This way, you can protect your personal information and spare your family the ordeal of the lengthy verification process.

Recommended:  Types of Estate Planning Trusts

Choosing the Next Master of Your Pets

If you love your pets with all of your heart, you should be concerned about master-ship. As the law considers them as properties, they might end up homeless when nobody wants them if you suddenly pass away. An estate plan allows you to choose someone who’s actually willing to take care of them like you do.

Estate planning is never a waste of time, energy, and money. It’s a fun and adult way of acknowledging your own mortality. After all, you only live once, so live it the right way.

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