While millennials are still young, it’s never too early to plan for the future and be proactive. By taking care of vital matters such as wills and estates, you can make your wishes known and protect your loved ones when you're no longer around. Here are other compelling reasons it’s essential to start your planning process early.

Why Millennial's Need to Start Estate Planning

1. To Protect Digital Assets

One of the most distinct qualities of millennials is their constant online presence. If you rely heavily on your online accounts for essential tasks like paying bills, collating research, or publishing blog articles, that's all the more reason to address digital estate planning concerns. A knowledgeable wills and estates lawyer can advise you how your online accounts will be managed or how to share account access and passwords to others safely. 

2. To Protect Dependents

If you have children, having an estate plan is one of the best ways to ensure they will be taken care of when you’re no longer capable. Your will can include instructions on property distribution among your heirs and a financial guardian for minors in your immediate family. You can even create a plan to make sure your pets end up in a loving home where they will receive the best care.

3. To Set Provisions for an Unmarried Partner 

It's not uncommon for millennials to put off marriage until they are sure that's it's the right decision. However, this doesn't mean that their significant other is not important to them. If you are unmarried, you can still protect your partner by adding them in your estate plan. Apart from wills and estates, you can include your partner in other legal instruments like beneficiary designations and medical and durable financial powers of attorney. Essentially, you can name your partner as your agent or proxy when it comes to economic, health, and legal matters.

If you’re looking for quality legal assistance in drafting your will or estate plan, turn to Luke A. Weiland, Attorney at Law in Wisconsin Rapids, WI. Their compassionate and outstanding legal team will be more than happy to give you competent advice and dedicated representation to ensure you are fully protected. Call them today at (715) 422-6808 to book your initial consultation or visit their website to get in touch with them online.