Millennials are estate plannings’ next major demographic. However, to acquire them as clients, estate planners must overcome several hurdles. The biggest obstacles attorneys face are the misconception that estate planning is only for older/wealthier individuals, and the wariness millennials have of spending money on things they deem unnecessary.

In order to convince millennials they should be financially prioritizing estate planning, it’s important to educate them why an estate plan is not only a worthwhile investment, but that it’s fundamentally necessary for the future well being of their families. Below are some basic talking points for engaging millennials.

What is a Qualified Disability Trust?

The legal authority to create a Qualified Disability Trust (QDisT) falls under §642(b)(2)(C) of the Internal Revenue Code. To qualify as a QDisT, the trust must meet the following criteria:

As tuition and health care costs continue to soar, clients will be looking for ways to mitigate these financial burdens on their loved ones.