Estate Planning for Millennials: A Guide for People Who Don’t Think They Need One

The Adulting 101: Estate Planning For Millennials Hub

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Estate planning is the ultimate "get your shit together" exercise. It's about organizing your finances, healthcare wishes, and digital life so that everything works exactly the way you want it. And it's not just for the rich... everyone benefits from planning ahead. Create your estate plan today, plan for tomorrow, and let it evolve with you over time.

So, have you thought about these questions?

  • What happens if you're in a medical emergency and no one knows what you want?
  • Who gets access to your accounts, passwords, and investments if something happens to you?
  • If you own a car, a dog, a savings account, or even a streaming subscription, who takes care of it?

A will, advance directives, and a few simple steps can ensure that your assets, digital life, and personal decisions are handled exactly as you want and not left to the courts or to relatives who might not know your true intentions. (The funny thing is, everyone already has an estate plan. If you die without a will, the government decides what happens to you and your stuff.)

This Information Hub will walk you through the essentials and help you take action with tools like the CLEAR Kit, Executor’s Summary Report, and our quick-start estate planning resources. Best of all, putting them together doesn't need to break the bank.

Table of Contents

Key Things To Know

Most millennials assume estate planning is something you do later. Spoiler alert: It’s something you should do now. Here’s why:

  • You have an estate, even if you don’t own a house: Your bank accounts, Venmo, car, crypto, and even your Instagram account are part of your estate. If you don’t decide what happens to them, the state will. (That's called dying "intestate".)
  • Wills aren’t just for parents or rich people: A will lets you choose who inherits your assets, who manages your accounts, and who takes care of your pet. No will? The government makes the call.
  • Your digital life needs a plan: If no one knows how to access your bank accounts, social media, text messages, photos, or cloud storage, they could be locked, lost, or hacked.
  • You need a medical plan, too: If you’re ever in an accident, a healthcare proxy and advance directives ensure someone you trust makes decisions for you.
  • Estate planning doesn't need to be hard or expensive: You don’t need to hire a lawyer for basic estate planning. You can create a legally valid will and power of attorney online today.

Unsure where To Start? We got you...

Buried in Work provides a wide range of checklists, guides, and resources to help you navigate estate planning and end-of-life organization. Below are some of the key resources we believe will be most helpful. In addition, we offer more than 80 Information Hubs, a podcast, 100 checklists, 15 guides, and much more. If you do not find what you are looking for, feel free to contact us for additional support.

Get A Free Estate Planning Roadmap

You don't need to go it alone.
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Take The Quiz

Find out how prepared you are with our free Estate Preparation Quiz.

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Get Organized

Our Estate Organization Systems Hub can point you in the right direction.
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Create A Will

DIY, online, or with an attorney... the choice is yours.
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Get Advance Directives

Advance directives are quick to make. DI to with a service provider.
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Checklist

"Annual Estate Plan Review"
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The Buried in Work Podcast

Estate Planning & End-of-Life: Insights from the Experts Who Make It Easier
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Podcast Directory

We're not the only podcast around, so we created a directory to help you.
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Life Changes and Estate Planning: Keeping Your Future on Track

Estate planning isn’t a one-and-done task. Life changes, and when it does, your estate plan should change with it. Major milestones like marriage, having a child, divorce, or even a significant health diagnosis can impact your financial and legal situation.

This section covers how to update your estate plan after key life events, ensuring your loved ones, finances, and wishes are properly accounted for. Whether you are organizing your estate for the first time or revising it after a major shift, staying proactive will save you and your family unnecessary stress down the road.

Checklist

"How to Conduct a Family Meeting for Estate Planning"
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Checklist

"Estate Organization After a Marriage"
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Checklist

"Estate Organization After a Newborn"
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Checklist

"Estate Organization After a Divorce"
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Parents & Caregiving

Many millennials and Gen Xers are part of the sandwich generation, balancing careers, raising children, and caring for aging parents all at the same time. Estate planning and caregiving responsibilities often fall on your shoulders, whether it is helping your parents get organized, discussing their long-term care wishes, or making sure their home is safe.

This section provides conversation guides, estate planning checklists, and home safety tips to help you support your parents while managing your own responsibilities. Taking small steps now can prevent stressful decisions later and ensure your family is prepared for whatever comes next.

Start The Conversation

Having the conversation about aging and end-of-life with your parents doesn't need to be difficult.
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Parents Getting Older?

"Family Estate Planning Checklist for Parents 55+"
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Make Sure They're Safe At Home

"Home Safety Checklist"
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When Politics Is The Last Thing You Want To Talk About

"Holiday Questions Checklist for Aging Parents"
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What to Do When A Parent Dies

Losing a parent is one of life’s most difficult experiences. In the midst of grief, there are also immediate decisions to make and practical tasks to handle. From notifying family members and securing important documents to handling funeral arrangements and settling their estate, knowing what to do can feel overwhelming. It won't get better, but it will get easier.

Checklist

Wat To Do When Someone Dies
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Find A Service Provider Near You

Need professional assistance? Use our directories to find trusted service providers near you who specialize in estate planning, end-of-life organization, and related services.

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With dozens of service provider directories, you can connect with service professionals near you.

Frequently Asked Questions

Estate planning is not just about what happens when you die. It is about making sure your finances, digital life, and medical decisions are handled the way you want if something happens to you. Whether you are figuring out how to create a will, set up a healthcare directive, or organize your passwords and accounts, having a plan makes life easier for you and your loved ones. Below are the most common questions millennials ask when getting started.

General Information

Because life is unpredictable. Estate planning ensures that if something happens to you, your money, personal belongings, and online accounts are handled the way you want. It also ensures someone you trust makes medical and financial decisions on your behalf if you are unable to. Without a plan, courts or family members who may not know your wishes will make those decisions for you.

If you die without a will, your estate goes through intestate succession, meaning the state decides who inherits your assets. If you are married, your spouse will usually inherit everything. If not, your parents or siblings may receive your assets, even if you would have preferred a friend, partner, or charity to inherit. Having a will gives you control over who gets what.

Yes. Estate planning is not just for homeowners. Your estate includes everything you own, such as your bank accounts, car, personal belongings, digital assets, and even your social media profiles. A will ensures that your assets go to the right people and that someone you trust handles your affairs.

At a minimum, you should have the following in place to make sure your estate is organized and your wishes are clear:

  • Estate organization system so people can find your information and step in when needed. The CLEAR Kit makes this easy by keeping everything in one place.
  • A will to decide who gets your assets, who manages your estate, and who takes care of your pet. You can create one online in minutes. ???? Create Your Will
  • A healthcare proxy (also often referred to as "Advance Directives") to name someone who can make medical decisions for you if you cannot. ???? Set Up Advance Directives
  • A financial power of attorney to allow someone you trust to handle your finances if you become incapacitated.
  • A key contacts list with names and numbers of important people like your executor, financial advisor, and healthcare agent.
  • End-of-life or final resting place instructions. Though, you don’t need to have everything figured out now. Start with the basics and update it as your plans evolve.

Digital and Financial Estate Planning

Your accounts do not automatically shut down. Most platforms, including Facebook, Instagram, and Google, allow you to designate a legacy contact or an inactive account manager to manage or close your accounts. Without a plan, your profiles could remain active indefinitely or be hacked.

Create a digital estate plan that includes a list of all your important accounts, including bank logins, social media, email accounts, and cryptocurrency wallets. Store this information in a password manager or a document that your executor can access when needed.

Yes. These accounts may not be automatically linked to your main estate and can be lost if no one knows they exist. Make sure your executor has a record of any online financial accounts, including Venmo, PayPal, crypto wallets, and investment platforms.

Many digital purchases are licensed, not owned, which means they cannot be transferred after you die. However, certain platforms allow you to name an inheritor or transfer access. Make sure to check the policies of services like iTunes, Kindle, and Google Play.

Healthcare and Family Considerations

Without an advance directive or healthcare proxy, doctors will typically follow state laws that prioritize your closest family members. If you want to ensure that your medical care is handled by someone you trust, you need to legally designate a healthcare proxy.

Yes. A will allows you to name a pet guardian and even leave money for their care. Without a designated plan, your pet could end up with an unintended caregiver or in a shelter.

Yes, but you need to specify it in your estate plan. Without legal documentation, your assets may go to your parents or siblings instead of your partner. If you want your partner to inherit your assets or make medical decisions on your behalf, you need to name them in your will and healthcare directive.

You should update your estate plan anytime you experience a major life change like marriage, divorce, the birth of a child, or a significant financial shift. Keeping your estate plan up to date ensures your wishes are followed as your life evolves.

Logistics of Creating an Estate Plan

The cost depends on how you do it. You can create a basic will and healthcare directive online for under $100. If you need legal guidance for a more complex estate, hiring an estate attorney typically costs between $300 and $3,000 depending on your needs.

Creating a simple estate plan, including a will, healthcare proxy, and power of attorney, can take less than an hour using an online service. A more detailed estate plan with trusts and customized legal documents may take a few weeks if working with an attorney.

Yes, and you should. Life changes, and your estate plan should too. You can update your will or advance directives at any time by creating a new document and properly executing it according to state laws.

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Disclaimer: The information provided on this website and by Buried in Work is for general informational purposes only and should not be considered legal advice. Please consult with a qualified attorney or subject matter expert for advice specific to your situation.