A Miami estate planning attorney can help you prepare for the future.
Most millennials think that estate planning is something they don’t need to worry about until they are older. After all, if you don’t own many assets or have a lot of money to pass on, or perhaps if you don’t have any children, what is there to plan for?
The truth is, though, estate planning is about more than just passing on wealth and property to the next generation. In fact, beginning the planning process before you have accumulated a lot of assets can make the process a lot easier. Here are a few different ways that estate planning can help everyone, even millennials.
Miami Estate Planning Attorney: Digital Estate Planning
For millennials, who grew up during the digital age, estate planning can help protect their digital assets. What’s a digital asset, you ask? Well, a digital asset is something that you own that exists in digital form. For instance, social media accounts, blogs, digital music collections, and online gaming accounts are all digital assets. Without a plan to protect your digital assets, they could be gone forever if you pass away.
If you want to make sure that your surviving family members can access your digital property, it’s important to include the proper account information in your plan, as well as instructions for how they should be handled.
Miami Estate Planning Attorney: Financial Accounts
Even if you think that you don’t have enough money to worry about creating an estate plan, you should think about how your family can claim the money that you do have in case you pass away unexpectedly. Even a few thousand dollars in your checking account can help your next of kin with expenses like funeral costs and hospital bills.
If you want to protect your money from the probate process, it’s absolutely critical to consult with an attorney to find a solution that works for your situation.
Miami Estate Planning Attorney: Healthcare
Nobody knows what’s going to happen tomorrow. You could be totally healthy, not expecting to end up in the hospital, only to get into a car accident on your way to work. Having an estate plan in place and including a healthcare power of attorney in it can make sure that your wishes are followed. Furthermore, millennials are getting married later than preceding generations. If you are not married but have a longtime partner, they might not be able to visit you in the hospital let alone make medical decisions for you.
In short, it’s best to prepare for the absolute worst. Our hope is that you won’t have to take advantage of the fact that you have an estate plan, but you never know what’s going to happen.
Talk to a Miami Estate Planning Attorney Today
Are you ready to start planning? Get in touch with the estate planning attorneys at Casal & Moreno today to learn more.