Millennials: estate planning is for you

Millennials: estate planning is for you

| Oct 24, 2018 | Wills And Trusts |

If you are like many Louisiana residents in their 20s or 30s, you might almost laugh at the thought of creating a will for yourself. It is easy when young, especially if you are in good health, to assume that only your parents or grandparents need to think about estate planning. However, there are many situations in which getting serious about this can be very useful for you and your families.

As explained by NerdWallet, anyone in the millennial generation who has had at least one child should think carefully about what would happen to that child if for some reason both parents died. Accidents happen, and they rarely happen when you expect so it is important to be prepared at all times. An estate plan that identifies a guardian for your child can make life much easier for those left behind as they work to pick up the pieces after a tragic loss.

Whether or not you have a child, an accident might leave you unconscious or otherwise unable to make decisions for yourself or take care of your financial matters. An advance health care directive and a power of attorney together would have things all lined up so somebody else could step in promptly on your behalf should that be needed.

If you would like to learn more about the types of documents and instructions that may be a beneficial part of an estate plan for someone in their 20s or 30s, please feel free to visit the millennials estate planning page of our Louisiana wills and trusts website.