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An estate plan is not just for older, married people

There are certain aspects of life that New Yorkers will prioritize based on their age and current life situation. For example, a person with a family who is established in his or her career will likely place a greater emphasis on having all the essentials in place. That includes health insurance, a stable home, a stable job and an estate plan. For younger people - especially millennials - these might take a backseat toward becoming established and enjoying life with a freewheeling attitude. However, the failure to take the necessary steps in drafting estate planning documents is something these individuals regret every day. For millennials, understanding what documents are important and why is key to having a viable estate plan.

There are many incidents and accidents that can befall a person at any age. People do not like to think about the potential dangers that lurk around every corner, but today, there are so many risks that come from the behaviors of others that it is impossible and unwise to fail to account for these worries with estate planning. Having extensive and comprehensive documents for the future after a person is gone might not be as imperative when that person does not have dependents and major assets, but it is still a vital part of life. There are certain steps that millennials should take when crafting an estate plan.

A will is useful as it will divide the person's property among those who he or she desires. This includes financial and personal items. Social media accounts and entertainment collections should be part of that. A record of bank accounts, personal accounts, social media accounts and the usernames and passwords can be important to access key information. Even millennials might have retirement accounts. If there is a 401(k), a life insurance policy and more, having a beneficiary listed is imperative. A payable-on-death account lets the person designate a beneficiary and will shield the account from the probate process. For those who could become incapacitated, a frequent regret is not having a health care proxy and a durable power of attorney so a trustworthy family member or friend can make medical and financial decisions on the person's behalf.

For millennials or people of any age who are weighing the pros and cons of an estate plan or are simply unsure of what documents and devices are beneficial to their unique circumstances, having professional advice can assuage their concerns and give them guidance on how to proceed to suit their needs. A law firm that is experienced in all areas of estate planning for people of any age can help.

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  • I wanted to write to say how pleased my wife and I were at your professional handling of our estate planning and preparation of new wills. We were put at ease by your visit to our home for an interview and were pleased that you listened to us and captured the things that we felt were important.

    --Robert and Christine Simonson, Fairport
  • In order to finalize the documents we came to your office and were greeted in a very professional manner and we could not have asked for finer service. We left with copies of everything we needed and feel very confident our needs have been met. Thanks again. We will surely recommend you should the opportunity arise.

    — Christine and Robert Simonson, Fairport
  • I have been working with Weinstein & Randisi for about two years now. Elizabeth Randisi, through a very thorough process, has helped my wife and me determine what is really important in our lives. Thus, we were able to draft a living will that reflected our most important values regarding our estate.

    --David and Ajia Cherry, Fairport
  • I would like to give a testimony for Elizabeth Randisi, an estate attorney with Weinstein & Randisi. Her knowledge of wills and estate planning was clearly demonstrated in her presentation to us. Realizing our need for a will, my husband and I went to see Elizabeth.

    --Kathy and Gary Gray, Webster
  • Filing for Medicaid is never an easy or fun process. However, working with the Weinstein & Randisi firm made the process simple and streamlined. We were able to obtain all files and records regarding Medicaid enrollment within a few days using specially prepared checklists and verbiage recommended by our assigned paralegal.

    --Ajia and David Cherry, Fairport
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