![]() A significant number of Millennials prioritize quality of care, emphasizing the necessity of having clear medical directives in place.Īdditionally, a crucial part of guardianship planning today extends to pets. The survey also revealed that 20% of adults were prompted to create a trust or will upon having a child.įurthermore, many Millennials find themselves in the unique position of being in the Sandwich Generation, simultaneously caring for their children and aging parents. Assigning guardianship ensures that a trusted loved one will care for children in the event of a tragedy. Thinking about guardianship is a fundamental aspect of estate planning for those with children or planning to start a family. According to the National Library of Medicine, 47% of adults between 18 and 30 expressed their wish for organ donation, a choice that can be formally recorded through these legal documents.īy taking the time to establish a power of attorney and medical directives, you can ensure that you and your loved ones are prepared when the time comes. These documents are vital as they ensure your autonomy over medical decisions and relieve family members of the burden of making potentially agonizing choices during emergencies. On the other hand, medical directives cover your preferences regarding medical treatment and end-of-life care. ![]() A power of attorney is a legal document that grants a chosen individual the authority to act on your behalf, particularly in financial or legal matters, should you become incapacitated or unable to make decisions. Power of attorney and medical directives are fundamental documents that safeguard your preferences in case you become incapacitated. Appoint a power of attorney and draft medical directives. ![]() The resources available for creating a will make it simpler for younger generations and encourages a proactive approach to financial planning. This may seem like a lot of work, but the process doesn’t need to be drawn out according to Trust & Will, 46% of Millennials were able to complete their estate plans within a year from the time they first considered doing so - and this can be made easier by working with an estate planning professional. ![]()
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