Attorney Jake Bruner Co-Presents “ILIT Training for Life Insurance Agents” in Collaboration with Pinney Insurance.

Estate planning isn’t about how old or how wealthy you are. It’s about being prepared. And Millennials, more than any generation before them, have compelling reasons to get an estate plan in place.

If you’re a Millennial, there’s a decent chance you don’t have kids yet. But you do have a dog. Let’s be honest though: even if you do have kids, your pup will always be the first baby of the house. Unfortunately, pets are considered tangible, personal property under Colorado law. This means that, without proper planning, their future care can be uncertain, and, in some cases, your pets could be placed at a shelter if a loved one is unable to care for or support your animal on a long-term basis. A pet trust in Colorado is one of the most effective ways to prevent this from happening and ensure your animal is cared for exactly the way you intended if you were to die or become incapacitated.

Traditional estate planning primarily focuses on physical assets like houses, tangible goods, and even U.S. dollars. But for Millennials - and especially Bitcoiners - digital life is often just as valuable, personal, and complex as physical life. Recognizing this, Apple began rolling out a feature known as the “Legacy Contact” system in late 2021 - a system that decides who gets access to your iPhone data after you die. If properly setup, Apple’s Legacy Contact can serve as an important component of your digitally-native estate plan.

Over the next decade, Millennials are expected to inherit tens of trillions of dollars from their Baby Boomer parents. This shift - colloquially referred to as “The Great Wealth Transfer” - will be one of the largest movements of private wealth in history. But the real story isn’t who inherits the wealth. It’s what happens to that wealth next.