The importance of an estate plan for millennials

On Behalf of | Mar 10, 2019 | Estate Planning |

If you are one of the many residents in Georgia who is in their 20s or early 30s, you might not have ever thought about making a will. This type of thing may seem only necessary for your parents or your grandparents. However, you should know that estate planning is important for you as well. In addition, an estate plan is about a whole lot more than just a will that outlines who will get your stuff when you die. 

As Think Advisor indicates, there are many facets to a truly comprehensive estate plan. Take, for example, a health care advance directive that would allow someone else to make medical decisions for you if you were not able to. This could happen if you are in an accident which is always a possibility. A power of attorney is another estate planning tool that gives another person the ability to manage your finances in a similar type of situation. 

Should you die prematurely, somebody will need to manage your affairs, including your social media and other online accounts and identities. This is another thing that can be part of an estate plan. If you have become a parent, you should also think about guardianship plans should they ever be needed.

If you would like to learn more about the steps involved in putting together a plan that protects you and your family and that is appropriate for your stage of life, please feel free to visit the millennials’ estate planning page of our Georgia estate planning website.