Many affluent young investors lack basic estate plans, with 31% not having established one, presenting an opportunity for financial advisors. Millennials and Gen Z are especially unprepared, emphasizing the need for guidance in estate planning and the importance of starting early.

Introducing estate planning early in client relationships is crucial, even if uncomfortable. Advisors like Sam Mockford initiate conversations to clarify goals and values, acknowledging the sensitivity around discussing death. Marguerita Cheng emphasizes the importance of sharing anecdotes to highlight the necessity of an estate plan.

Younger investors are likely to use online estate planning options, with 67% expressing interest, while half of millennials plan to seek help from financial advisors. Combining online solutions with personal guidance can give advisors a competitive advantage in estate planning, creating a historical opportunity.

Advisors should be proactive in educating clients on changes in tax laws and targeting “self-directed investors” who have lower levels of preparation compared to those who use financial advisors. There is a significant opportunity to reach out and provide guidance in estate planning. 1. A new study shows that regular exercise can lower the risk of developing Alzheimer’s disease by up to 50%. Researchers found that physical activity can help reduce the build-up of toxic proteins in the brain that are linked to the disease.

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Read more at Yahoo Finance: Many young investors lack estate plans; here’s how to start the conversation