Here’s something unexpected — a college student making the case for estate planning for her fellow Millennials! Color us surprised.
It’s no secret that most American adults are reluctant to think about the possibility of passing away unexpectedly. And no age group is less interested in the prospect of death or old age than those who believe they are furthest from it — the young.
College students talk a lot about many important issues, but advance planning is rarely among them. That’s why we were taken aback by an op/ed we found in California State University Northridge’s university newspaper, The Sundial.
In it, one young woman calls on her fellow students to consider creating at least an advance directive for their healthcare concerns, if not a full-blown estate plan. To persuade them, she taps into a fear that California students should easily understand: earthquakes.
“Every few years,” she writes, “an earthquake happens that scares the living daylights out of people. Then, all of a sudden, earthquake kits begin flying off store shelves.
“Why? We as a collective community scramble to prepare in the face of potential disaster because we want to take care of ourselves in a worst-case scenario.
“…A car accident, a drunk driver, a simple slip and fall… can change a life forever. We do not plan on traumatic brain injuries, comas… or death at a young age. Unfortunately… they can occur as unexpectedly as an earthquake.”
Wisdom beyond her years! That’s a lesson that many adults double her age have yet to take to heart.
The truth is that none of us know what tomorrow may bring, and in the event that we meet unexpected illness, injury, or death, we need to take care of those who we’ll leave behind.
Interestingly, the student’s emphasis on advance directives might reflect another misperception among youth, which is that they don’t need a will or a living trust because they are young with limited incomes and therefore have no real assets to protect. That’s rarely true. Even college students can provide real protection for their loved ones by executing a comprehensive estate plan.
Maybe you’re a student yourself. If so, statistics tell us that you probably haven’t done much in the way of advance planning. Truly, though, it is something you should consider. At the very least, it’s worth a conversation, and that’s something we’re happy to have with you over the phone and at your convenience.
Give O’Connell Law LLC a call (or simply stop by our office) to find out how we can help young Americans start building a wise and strategic foundation for the future today.
