{"id":42965,"date":"2022-08-17T10:00:06","date_gmt":"2022-08-17T17:00:06","guid":{"rendered":"https:\/\/ameriestate.com\/?p=42965"},"modified":"2022-11-28T11:10:23","modified_gmt":"2022-11-28T19:10:23","slug":"millennials-and-estate-planning","status":"publish","type":"post","link":"https:\/\/ameriestate.com\/estate-planning\/millennials-and-estate-planning\/","title":{"rendered":"Millennials and Estate Planning"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/ameriestate.com\/wp-content\/uploads\/2022\/11\/Millennials-and-Estate-Planning-AmeriEstate-Legal-Plan.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"533\" src=\"https:\/\/ameriestate.com\/wp-content\/uploads\/2022\/11\/Millennials-and-Estate-Planning-AmeriEstate-Legal-Plan.jpg\" alt=\"Millennials and Estate Planning | AmeriEstate Legal Plan\" class=\"wp-image-42966\" srcset=\"https:\/\/ameriestate.com\/wp-content\/uploads\/2022\/11\/Millennials-and-Estate-Planning-AmeriEstate-Legal-Plan.jpg 800w, https:\/\/ameriestate.com\/wp-content\/uploads\/2022\/11\/Millennials-and-Estate-Planning-AmeriEstate-Legal-Plan-300x200.jpg 300w, https:\/\/ameriestate.com\/wp-content\/uploads\/2022\/11\/Millennials-and-Estate-Planning-AmeriEstate-Legal-Plan-768x512.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/figure>\n\n\n\n<p>If you were born between 1981 and 1996, you\u2019re part of <a href=\"https:\/\/en.wikipedia.org\/wiki\/Millennials\">Generation Y<\/a>, aka the Millennials. Millennials are the first generation to grow up in the age of computers, the internet, social media and smartphones. As such, you may share some or all of the following <a href=\"https:\/\/talentor.com\/blog\/generation-y-in-workplace\">characteristics<\/a> with your fellow Millennials:<\/p>\n\n\n\n<ul>\n<li>Educated<\/li>\n\n\n\n<li>Tech savvy<\/li>\n\n\n\n<li>Self-confident<\/li>\n\n\n\n<li>Ambitious<\/li>\n\n\n\n<li>Desirous of a good work-life balance<\/li>\n\n\n\n<li>Living with a roommate or partner<\/li>\n<\/ul>\n\n\n\n<p>On the other hand, the Millennial generation is not known for estate planning. Before you say \u201cI\u2019m not old enough to think about that,\u201d or \u201cI don\u2019t own enough to think about that,\u201d stop and consider. Do you own any of the following?:<\/p>\n\n\n\n<ul>\n<li>A home<\/li>\n\n\n\n<li>A vehicle, boat, RV, etc.<\/li>\n\n\n\n<li>Cryptocurrencies<\/li>\n\n\n\n<li>A 401(k)<\/li>\n\n\n\n<li>Antiques or collectibles<\/li>\n<\/ul>\n\n\n\n<p>If you do, you may be aware that these assets do hold value that can increase over time. Although you may be young, it is still beneficial to consider estate planning in case of events that happen out of your control.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Last Will and Testament<\/h2>\n\n\n\n<p>Having a Last Will and Testament in place is beneficial to people of all ages. Nobody knows when their time will come so it is important to be prepared in order to avoid having intestacy laws determine who inherits your assets and how.. Furthermore, in no event will they provide for a partner with whom you\u2019re cohabitating without the benefit of marriage.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Living Will<\/h2>\n\n\n\n<p>Your living will specifies the medical treatments and interventions you want or don\u2019t want if you become seriously injured, ill, or otherwise incapacitated.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Health Care Power of Attorney<\/h2>\n\n\n\n<p>Every estate plan includes a Healthy Care Power of Attorney. Here is where you designate someone to make medical decisions for you in the event that you cannot make them yourself.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Living Trust<\/h2>\n\n\n\n<p>If you own $150,000 or more in assets, you should seriously consider adding one or more <a href=\"https:\/\/www.thebalance.com\/revocable-vs-irrevocable-trusts-3505386\">living trusts<\/a> to your estate plan.<\/p>\n\n\n\n<p>Here you have a plethora of trust types from which to choose, including the following:<\/p>\n\n\n\n<ul>\n<li>Special Needs Trust for the benefit of your disabled child or other family member<\/li>\n\n\n\n<li>Charitable Trust for the benefit of your alma mater or favorite charity<\/li>\n\n\n\n<li>Asset Protection Trust for the benefit of you and your partner during your respective lifetimes<\/li>\n\n\n\n<li>Minor\u2019s Trust for the benefit of your minor child or children<\/li>\n\n\n\n<li>Pet Trust for the benefit of your pet<\/li>\n\n\n\n<li>Life Insurance Trust<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Obtaining Legal Help<\/h2>\n\n\n\n<p>If you\u2019re a Millennial looking to kick-start your estate planning journey, our team of attorneys and other estate planning professionals can give you the estate planning advice, counsel and documents you need. Simply <a href=\"https:\/\/ameriestate.com\/contact-us\/\">contact<\/a> us to get started.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you were born between 1981 and 1996, you\u2019re part of Generation Y, aka the Millennials. Millennials are the first generation to grow up in the age of computers, the internet, social media and smartphones. As such, you may share some or all of the following characteristics with your fellow Millennials:<\/p>\n","protected":false},"author":21,"featured_media":42966,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","footnotes":""},"categories":[108],"tags":[560,584,147,655],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Millennials and Estate Planning - AmeriEstate<\/title>\n<meta name=\"description\" content=\"AmeriEstate Legal Plan, Inc. can give you the estate planning advice and counsel you need, plus help you construct the will, living will, health care power of attorney, living trust and whatever other legal documents you need.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ameriestate.com\/estate-planning\/millennials-and-estate-planning\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Millennials and Estate Planning - AmeriEstate\" \/>\n<meta property=\"og:description\" content=\"AmeriEstate Legal Plan, Inc. can give you the estate planning advice and counsel you need, plus help you construct the will, living will, health care power of attorney, living trust and whatever other legal documents you need.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ameriestate.com\/estate-planning\/millennials-and-estate-planning\/\" \/>\n<meta property=\"og:site_name\" content=\"AmeriEstate Legal Plan, Inc.\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-17T17:00:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-28T19:10:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ameriestate.com\/wp-content\/uploads\/2022\/11\/Millennials-and-Estate-Planning-AmeriEstate-Legal-Plan.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"AmeriEstate Legal Plan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"AmeriEstate Legal Plan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ameriestate.com\/estate-planning\/millennials-and-estate-planning\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ameriestate.com\/estate-planning\/millennials-and-estate-planning\/\"},\"author\":{\"name\":\"AmeriEstate Legal Plan\",\"@id\":\"https:\/\/ameriestate.com\/#\/schema\/person\/b34c74a125d2c4aae394ff7db9f112e2\"},\"headline\":\"Millennials and Estate Planning\",\"datePublished\":\"2022-08-17T17:00:06+00:00\",\"dateModified\":\"2022-11-28T19:10:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ameriestate.com\/estate-planning\/millennials-and-estate-planning\/\"},\"wordCount\":443,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ameriestate.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/ameriestate.com\/estate-planning\/millennials-and-estate-planning\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ameriestate.com\/wp-content\/uploads\/2022\/11\/Millennials-and-Estate-Planning-AmeriEstate-Legal-Plan.jpg\",\"keywords\":[\"AmeriEstate Legal\",\"Estate Plan\",\"estate planning\",\"Millennials\"],\"articleSection\":[\"Estate Planning\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ameriestate.com\/estate-planning\/millennials-and-estate-planning\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ameriestate.com\/estate-planning\/millennials-and-estate-planning\/\",\"url\":\"https:\/\/ameriestate.com\/estate-planning\/millennials-and-estate-planning\/\",\"name\":\"Millennials and Estate Planning - 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