David Howard Goldberg, P.L.

Traveling this holiday? Even millennials can use an estate plan

For many, the holidays mean traveling, whether to reconnect with family or to find some new adventure. Traveling at any time of the year can be risky, no matter where one may be going in or beyond Florida. Even if those in their 20s and 30s are conscious of the dangers of traveling, they may not consider executing wills when they set out on their journeys. However, estate planning is not restricted to those who are near retirement or with many assets.

Having an estate plan is critical for those who have children since they can leave instructions for the care of their young ones and provide for their futures. Even those with no children and limited assets can benefit from creating a plan. For example, with an estate plan, one can designate a power of attorney to handle any financial, legal or health matters in the event an injury or illness leaves him or her incapacitated.

Using an estate plan, a young person can ensure a partner or close friend is included in discussions about medical issues that would otherwise be under the protection of confidentiality laws. Young people with no spouses or children may have special people in their lives to whom they would wish to leave their belongings. Without an estate plan, these beloved companions and friends may have no legal claim to any part of the estate.

Millennials can protect and transfer their digital assets and accounts as well as conventional assets through a well-crafted estate plan. Additionally, as time passes, one can revisit the plan and adapt it to new changes in life. This holiday may be an ideal time for young people to meet with a Florida attorney to learn how wills and other elements of an estate plan can benefit them.

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