Millennial Money: You're not too young to make a will
Contrary to popular belief, estate planning isn’t just for older adults or the wealthy, as unexpected circumstances can affect anyone regardless of age or financial status
Making a will isn’t a task just for the old and wealthy. It’s also for the well-prepared.
Recent years serve as a heavy reminder that you might not know when your last days are. Life expectancy in the U.S. dropped in both 2020 and 2021, driven by COVID-19 deaths and an increase in accidental deaths, according to the most recent data available from the Centers for Disease Control and Prevention.
Over 1 million people in the U.S. have died of COVID-19, according to the CDC. And in 2021, accidents or unintentional injuries were the fourth leading cause of death in the U.S., the organization found.
It’s unlikely that you’ll die young. But if the unexpected happens, having a will in place — even if it feels like you don’t need one — can be a simple way to avoid leaving important decisions about your assets and guardianship wishes to your state’s laws and courts. It doesn’t have to cost thousands of dollars, either.
