Many people assume estate planning is something to tackle later in life. For example, they assume they will only need a will if they have children. This is definitely not the case. In most states, you can begin estate planning as soon as you turn 18, and it is a good idea to begin planning early on. If you have any property or assets, you should have a will, as well as some other important estate planning documents.
What Does Estate Planning Entail?
Estate planning can feel overwhelming. If you are young, it may feel silly to plan so far ahead. In reality, estate planning is one of the most important things you can do for yourself and your loved ones. Over the years, your life will change drastically, and your estate plan should grow and change with you. You may want to create a will, trusts, a power of attorney, an advance healthcare directive, and any other documents that may be beneficial to your estate plan.
Can I Make an Estate Plan Without the Help of an Attorney?
We know that millennials are internet-savvy. As a result, it is easy to feel confident about taking on the estate planning process on one’s own. After all, there are tons of online resources. You will be able to find websites that offer fill-in-the-blank estate planning documents. This can seem like a good idea, but trying to create an estate plan without an attorney will probably not go well. These documents are incredibly important. As a result, they must be created and filed a certain way. If anything goes wrong, your documents may be found invalid and cause a lot of issues down the line.
Protecting Digital Assets
Millennials are fully immersed in the digital world, which means they most likely have several digital assets. These can include logins and passwords, websites they own/contribute to, cryptocurrency, and more. You can appoint a digital executor to handle these assets upon your passing.
If you are interested in beginning the estate planning process, contact our firm today.
Contact our Firm
Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Offices of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most. Do not delay. Estate planning is a more urgent matter than you may think. You never know what the future holds. Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.