Estate Planning for Real People

Estate Planning for Real People

Track #7 of the Rock-n-Roll Financial Literacy Series for Gen X
Featured Song: “Blood Money” – Jon Bon Jovi

Let’s bust the myth right now: Estate planning is not just for the rich or the elderly. Estate planning is not about how much you have—it is about what you want to happen when you are no longer calling the shots. Whether you own a house, have kids, care for aging parents, or just want to avoid chaos—this post is your backstage pass to building a plan that protects your people and your values. In this post, I provide a “Gen X overview” of estate planning.

Attached to this post is an excerpt from the website of an attorney that specializes in Estate Planning. The finer details in that excerpt will assist you further with what information to gather and take with you to your attorney when you are ready to begin planning your estate.

Why Gen X Needs to Get Real About Estate Planning

We are the “sandwich generation:”

• Supporting aging parents
• Raising kids or launching young adults
• Managing careers, homes, and health

We are also the generation that is often overlooked in financial planning—but we are at the perfect age to get our legal and financial affairs in order. Estate planning is not just about death. It is about:

• Protecting your family
• Avoiding legal messes
• Making medical decisions easier
• Preserving your legacy

What is in a Basic Estate Plan?

Here is your starter set—no law degree required:

Will – Investopedia defines a will as “a legal document that specifies your wishes for asset distribution and the care of dependents after your death.” In other words, it

• Names who gets what
• Appoints guardians for minor children
• Can be simple or detailed

Living Will – per Investopedia, “a written statement detailing a person’s desires regarding their medical treatment in circumstances in which they are no longer able to express informed consent, especially an advance directive.” In sum, it

• Outlines your medical wishes if you are incapacitated. Think: life support, feeding tubes, resuscitation

Power of Attorney – Names someone to make legal and financial decisions if you are unable. It can be broad or limited.

Medical Power of Attorney – Names someone to make healthcare decisions on your behalf. It

• Is often paired with your living will

• Helps avoid probate
• Can manage assets during your lifetime
• Is useful for blended families, special needs planning, or privacy concerns

Real Talk: What Happens If You Do Not Plan?

If you die without a will:

• The state decides who gets your stuff
• Your family may face delays, legal fees, and conflict
• Minor children may be placed with someone you would not choose
• Your medical care may not reflect your wishes

No plan = no control. And Gen X? We are all about control.

Tools That Do Not Suck

Here are a few Gen X-friendly websites you can use to get started:

• FreeWill – Create a basic will online for free
• Trust & Will – Affordable estate planning packages
• LegalZoom – DIY with support
• Gen X Money Checkup  – Includes a legacy planning worksheet

Quick Wins to Get Started

• Make a list of your assets and who you would want to receive them
• Choose a guardian for your kids (even if it is just a backup)
• Talk to your parents about their estate plans
• Name a power of attorney and medical proxy
• Write down your medical wishes—even if it is informal

Estate planning does not have to be perfect. It just needs to exist.

Let’s Talk About It

Drop me a line and tell me:

• What is one thing you want to make sure your family knows?
• What is your biggest fear about estate planning?
• What is one legacy you want to leave behind?

Let’s swap stories, bust myths, and build something better—together.

Final Encore: Estate Planning Is About Love, Not Just Law

Gen X does not need another lecture. We need clarity and tools. We need a plan that reflects our values—not just our valuables. Grab your Checkup. Start your plan. And protect what matters most.

Because retirement is not an age—it is an era.
And Gen X? We are ready to leave a legacy that slaps.

Bonus Track: Money Moves Playlist

This week’s vibe:
“Blood Money” – Jon Bon Jovi
A gritty reminder that what we leave behind matters—and it is up to us to shape it.

Until next time,

I’m sure hard to handle now, yes ‘er am,

Tia

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