The younger, the better: Gen Zers are ready for estate planning
They spend hours scrolling through TikTok, they’re regularly active on Instagram, and yet it turns out they’re more prepared than any other generation when it comes to planning their wills and estates.
A recent study from State & Will found that while millennials are taking the lead on getting their deathly affairs in order, Gen Zers are the silent leaders when it comes to planning their wills and legacy.
This shouldn’t come as a surprise. Most of the young generations have lived through such world events as 9/11, the 2008 financial crisis, mass shootings and a worldwide pandemic. They’re also technology-centered, pragmatic, self-starters and more concerned about the state of the environment than any other generation.
With the internet and social media taking up so much of Gen Zers’ lives, they can make more informed choices, and discuss their findings and opinions with other like-minded young people.
“They’re following all this financial content, they’re really engaged, and they want to learn because they want to set themselves up for success,” said Jack Heintzelman, financial planner at Boston Wealth Strategies. “They don’t want to work until age 65, then retire. They want to have meaning in their lives and they want to build themselves up to have flexibility.”
Young entrepreneurs are even establishing end-of-life planning websites, apps and tools so that other Gen Zers can curate their own afterlives.
“There’s a lot of information in front of them,” added Heintzelman, who’s a member of Gen Z himself. “They tend to be a lot more curious and making sure that they are set up for success younger where they can enjoy the other things in their lives that are important to them.”
That comes, he said, with making sure their
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