Our attorneys who work in the Estate Planning area are frequently overheard saying it is never too early to prepare important legal documents. My doctor’s office recently asked if I had a Healthcare Power of Attorney or a Living Will. Sheepishly, I said no. How could I not have these documents? I work for a firm that provides this service. I could not be in a better position to acquire these important planning tools, yet I have done nothing about it.
According to a study conducted by Russell Research that examined legal service preferences of four generations of American workers in 2008, the creation of planning documents is among both the top 10 legal concerns and experiences of Americans today. However, the study also reveals that Gen-Xers like me are more likely to focus on marriage or having children than their future finances and healthcare. Dying is the furthest thing from my mind at this time and I have not yet accumulated millions, so why bother planning right now? Unfortunately, this is the type of thinking that can cause problems if an unexpected issue were to arise.
Considering the myriad of responsibilities we have at work and at home every day, it’s easy to put this type of thing off – or even not to think of it altogether. I don’t want my family to be in the position of not knowing about my wishes or disagreeing about my care, so I plan to pursue the creation of my personal documents immediately. Members of Generation X are known for their resilience. This is my opportunity to uphold that reputation.