There Are Worse Things Than Being A Millennial Golden Girl
The old generation loves to fret about how the values of millennials differ from those of Baby Boomers, but estate planning lawyers accept that everyone’s financial values are unique. So what if you splurge on avocado toast but consider disposable dinner napkins wasteful? You need an estate plan as much as your parents do. If you are in your late 30s, you are just in time to start working on your estate plan? What’s that you say? A phone camera roll documenting your meaningful life experiences and over a hundred thousand dollars in student loans hardly count as an estate? Well, think of it as a long-term financial plan. The future is coming for everyone, even you. No one expects you to answer all of life’s big questions, but a Hillsborough County estate planning lawyer can help you make long-term financial plans that reflect your values.
Estate Planning for People Who Have Never Cared About Stuff
Most of the estate planning advice you read online assumes that you are married and have children, and that your husband earns more than you do. This simply does not reflect reality for most women born in the 1980s. More women of this generation are choosing to remain child-free and to forgo marriage and home ownership. Millennials might not care for the previous generation’s status symbols, but they do value friendship.
The good news is that spending the rest of your life living modestly and sticking close to your closest friends is just as good an estate planning strategy as any. Yes, you need to write a will, no matter how much or how little you own, and you need to buy long-term care insurance, but the rest is up to you. An increasing number of unmarried women in their 30s have been daydreaming out loud about living with a small group of women friends after they retire. Think of it as the Golden Girls, but with skinny jeans.
The idea is elegant in its simplicity. You will never have to worry about being lonely or depending on younger relatives who only see you as a burden or a source of inheritance money. Only one of you needs to own a house; the others can just pay rent. Outside of a household budget, your finances can stay separate.
Millennials are still decades away from retirement, so there is time to work out the details, but why not start planning now? Imagine sitting down on a restaurant patio with your friends, after a year of socializing on Zoom, and telling them about your delightfully non-materialistic plan to spend the rest of your lives together.
Contact an Attorney Today for Help
It is not too soon to start working on your estate plan. A Tampa probate lawyer can help you build an estate plan suited to a world with a changing understanding of family and changing financial priorities. Contact David Toback for help with your case.