EL
SEGUNDO, Calif., Sept. 30,
2024 /PRNewswire/ -- Rockpoint Probate announces a
shift in estate planning as millennials prioritize digital assets,
social causes, and flexibility, fundamentally changing the
landscape of inheritance. Millennials. You've heard the gripes.
They're killing everything from plastic straws to homeownership.
But here's one thing they're saving, or at least seriously shaking
up—estate planning. Yeah, that's right. While older generations may
have tucked away their wealth and handed it over in a neat little
package after they passed, millennials are looking at the whole
deal differently. They're less interested in the traditional ways
of passing down wealth and more focused on new priorities—like
digital assets, environmental responsibility, and making sure their
lives reflect the kind of values they've lived by.
And it's not just about doing things differently; it's about
making sure estate planning, that often dusty process for lawyers
and accountants, catches up with the times. So how are they doing
it? Let's take a closer look at how millennials are shaping the
future of inheritance and what that means for all of us.
Digital Assets: A New Kind of Inheritance
You probably wouldn't have caught your grandfather worrying
about his social media accounts when writing a will, right? But for
millennials, who grew up with the internet humming away in the
background, digital assets are just as important as the physical
stuff. We're talking everything from Bitcoin wallets to Instagram accounts with tens of
thousands of followers, to online businesses they've built from
scratch.
The real kicker? They're not waiting until they're gray and
stooped to worry about it. They're making plans now, drafting
instructions for what happens to their digital lives when they're
gone. Some are appointing "digital executors"—yes, that's a thing
now—to take care of their online presence after they're not around
to tweet anymore.
As a result, the legal world is playing catch-up. Unlike
grandpa, who knows a guy who knows a guy, Millennials search for
well reviewed attorney online. Estate planning documents are
starting to explicitly call out digital assets, and lawmakers are
scrambling to write guidelines for an online afterlife. For
millennials, this isn't just about keeping up appearances. It's
about recognizing that digital stuff is real stuff, and it
matters.
Money with Meaning: Social and Environmental Causes
Matter
And then there's the social stuff. Millennials aren't exactly
known for being shy about their passion for causes—social justice,
environmental sustainability, and charitable giving. Their estate
planning reflects those values, too. It's not just about leaving a
nest egg for the kids or passing on a family home. More and more,
millennials are setting up their wills and trusts to ensure that
their wealth continues making a difference long after they've
checked out.
Charitable remainder trusts and donor-advised funds? You bet.
For this generation, giving back is part of the package. And
they're smart about it, too, making sure their money goes where
they want it—whether that's protecting the planet, funding social
causes, or ensuring their investments line up with sustainable
values.
It's a pretty sharp contrast to their predecessors, who often
viewed wealth transfer as a way to secure the family name and
fortune for generations to come. Millennials, though, want to make
sure their wealth, however modest or grand, contributes to
something bigger than themselves. That's where their hearts
are—giving back to the world while they're still here and after
they're gone.
Flexibility and Control: Keeping the Reins Tight
Here's another thing: Millennials like to keep their options
open. Whether it's switching jobs, changing cities, or rethinking
life plans, they're all about flexibility. Like Legal Loans,
Inheritance Loans have become popular among Millennials. So when it
comes to estate planning, they don't want something set in stone at
35, only to be dragged along for the rest of their lives. They want
to tweak, update, and control their future even when they're not
around.
This is where revocable living trusts come in—giving them
control over their assets now and the ability to update plans as
life inevitably changes. Millennials, unlike their grandparents,
don't view estate planning as a one-and-done deal. They see it as a
living, breathing document that can be adjusted as they grow older,
wealthier (hopefully), or have new ideas about where their money
should go. Many Millennials are opting to secure Inheritance
Funding to pay off their debts, start businesses, and manage their
own estate rather than wait for Probate.
That flexibility is a key difference between them and the
generations before. Sure, older folks used trusts and estate plans,
but the idea of continuous control—even beyond the grave? That's
where millennials shine.
Estate Planning in the Age of Technology
But perhaps the biggest shift in millennial estate planning
comes down to their comfort with technology. This generation lives
and breathes digital tools, so it's no surprise that they're not
waiting for some stuffy meeting in a wood-paneled office to get
their affairs in order. They're using online platforms, creating
estate plans digitally, and signing off with e-signatures. In fact,
some are even using blockchain to track assets for added
security.
Estate planning services have noticed the trend, with more and
more offering digital-first solutions that let users craft their
wills, trusts, and other legal documents with just a few clicks.
It's estate planning for the click-and-swipe generation, offering
convenience and ease at a fraction of the traditional cost.
And as the demand for digital estate planning grows, companies
are getting smarter about ensuring privacy, safety, and security in
ways that haven't been seen before. No more filing important papers
in a fireproof box under the bed—everything's going to the
cloud.
Financial Independence Over Inheritance
Here's the thing: If you talk to a millennial about inheritance,
don't be surprised if they look at you a little sideways. Unlike
previous generations who often banked on receiving a hefty check or
a house in the will, millennials aren't waiting around for an
inheritance to secure their futures. They're planning for financial
independence—and that's the real game changer.
Many of them are creating estate plans that focus more on
funding their personal growth and financial independence than
passing down wealth to the next generation. They're thinking about
student loans, home ownership (when they can afford it), and
entrepreneurship. They're not looking for a windfall; they're
looking to build something solid on their own.
What's fascinating here is the mindset shift: Millennials see
inheritance as a possible bonus, not the foundation of their
financial plans. And they're setting up their own estate plans with
that same thought—thinking less about a windfall for future
generations and more about teaching financial literacy, creating
opportunities for growth, and making sure the people they leave
behind have the tools to build their own financial futures.
A Whole New Approach to Legacy
In short, millennials are rewriting the playbook on estate
planning. They're thinking beyond the traditional boxes—rethinking
wealth, inheritance, and what it means to leave a legacy. They're
more interested in living a meaningful life that reflects their
values—whether that's managing digital assets, contributing to
causes they care about, or maintaining flexibility over their
wealth distribution.
It's a brave new world for estate planning professionals, who
are learning quickly that to stay relevant, they need to offer
services that meet the millennial generation where they are:
online, on-the-go, and with an eye on the future. Inheritance isn't
dead—far from it. But it's evolving, and the millennials are the
ones leading the charge.
So, the next time someone tells you millennials are killing
tradition, remind them—when it comes to estate planning, they're
not just breaking the mold. They're creating a new one. And, like
so many other things, they're doing it their own way.
For more information about Rockpoint Probate Funding and its
services, please visit www.rockpointprobate.com
Media Contact:
Rockpoint Probate Funding
Dan Burks-Goodman
Marketing Director
424-502-4645 x 894
dbg@rockpointprobate.com
www.rockpointprobate.com
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