When it comes to estate planning, there is a lot to consider and it is best to start early on. Read on to learn more about the estate planning process and how and when you should get started.
There are a lot of misconceptions surrounding estate planning. For example, some people believe they do not need to create a will unless they are of a certain net worth or they have children. In reality, anyone with property and assets should create a will. In most states, you can create a will at 18 years old. Your estate plan should grow and change as you do. When it comes to estate planning, it is a good idea to get it done early so that it isn’t hanging over your head. Additionally, life is unpredictable and it never hurts to be prepared.
Millennials are tech-savvy, so it makes sense that they would simply create their estate plans online. After all, there are a number of websites dedicated to DIY estate planning. While this may seem like the cheaper and easier option, it is likely more trouble than it is worth. Something can easily go wrong, leaving you with an invalid estate plan. Instead, you should contact an experienced estate planning attorney.
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 ready to begin the estate planning process, contact our firm today. We are here to assist with all of your estate planning needs.
Juan C. Velasco, Esq. is a trusted attorney who concentrates on bankruptcy, family law, real estate, and estate matters who has been serving the New Jersey area for over 25 years. If you are in need of experienced legal counsel, please contact Velasco Law Office and we will be happy to assist you.