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Millennials should understand the importance of estate planning

Millennials have a lot on their mind. From finding love to starting a career, they're always on the go.

Unfortunately, this often leads to a situation in which people of this generation overlook the importance of estate planning.

Even though you are in your 20's or 30's, it doesn't mean you can overlook the importance of estate planning. Now is the time to learn with the idea that the decisions you make will benefit you in the future.

There are many benefits of estate planning, including the peace of mind that it provides. With the right plan in place, you never have to worry about what will happen to you in the event that you become incapacitated. The same holds true of your assets upon your passing.

Adding to this, if you have any children, you'll want to make sure your estate plan is in good working order. For example, you need to name a guardian. This is the person who will care for your child if you and your spouse pass away before he or she reaches the age of 18.

Although you may have a lot on your mind, it doesn't mean you should put estate planning off. Millennials, just the same as older individuals, need to focus on creating an estate plan that puts their mind at ease.

If you're ready to take the first step in the right direction, write down your goals and make a list of the professionals who can help. This will put you on the right track, allowing you to move forward with confidence.

Source: Casey & Lundregan PC, "Estate Planning," accessed Aug. 18, 2017

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