Estate planning has traditionally been associated with older generations, focusing on distributing tangible assets like homes, investments, and personal belongings. However, Generation Z (born between 1997 and 2012) is redefining this narrative. Growing up in a digital age, experiencing economic uncertainties, and valuing personal freedom, Gen Z is approaching estate planning with a fresh perspective. This article explores how Gen Z is reshaping estate planning to align with their unique lifestyles and values.​
Who Is Gen Z? Why They’re Reshaping Legacy Thinking
Gen Z is the first generation to grow up entirely in the digital era. They are tech-savvy, socially conscious, and value experiences over possessions. Unlike previous generations, Gen Z is less likely to own traditional assets like homes but more likely to possess digital assets such as cryptocurrencies, NFTs, and online content. Their approach to wealth is holistic, considering not just financial assets but also personal values and digital footprints.​
What’s Changed? The New Rules of Estate Planning for Gen Z
Rule #1 – Digital Assets Must Be Central
For Gen Z, digital assets are as valuable as physical ones. These include:​
- Cryptocurrencies and NFTs​
- Social media accounts​ Duncan Williams Asset Management
- Digital art and content​
- Online businesses and blogs​
In 2025, it’s crucial to include these assets in estate plans. Legal frameworks like the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA) allow individuals to designate digital assets and provide access instructions to executors. This ensures that digital legacies are preserved and managed according to one’s wishes. ​Morgan Legal Group / Dig.watch / Wealth Planning Law Group
Rule #2 – Ethical Wills Are Back
Beyond material possessions, Gen Z values the transmission of personal beliefs, stories, and values. Ethical wills, or legacy letters, allow individuals to share life lessons, hopes, and personal philosophies with their heirs. This non-legal document complements traditional estate planning by providing a holistic view of one’s legacy.​
Rule #3 – More Flexible Structures
Traditional estate planning often centers around nuclear families. Gen Z’s diverse family structures and social circles necessitate more flexible estate plans. This includes recognizing:​
- Blended families​
- Close friends as beneficiaries​
- Charitable organizations​
Estate plans now often incorporate trusts and wills that reflect these varied relationships, ensuring that assets are distributed in alignment with personal connections and values.​
Rule #4 – Decentralized and Independent Options
With a strong inclination towards decentralization, Gen Z is exploring estate planning tools that offer autonomy and security. Platforms like Casa and Safe provide solutions for managing digital assets, including cryptocurrencies, ensuring that these assets are accessible to designated individuals upon one’s passing. These tools often utilize smart contracts and multi-signature wallets to enhance security and control.​
Challenges Facing Gen Z Estate Planners
Despite their proactive approach, Gen Z faces several challenges in estate planning:​
- Legal Ambiguity: Laws regarding digital asset inheritance vary by jurisdiction and are still evolving.​
- Technological Complexity: Managing and securing digital assets requires technical knowledge and tools.​
- Lack of Awareness: Many are unaware of the importance of estate planning or believe it’s only for the wealthy. ​trustedelderlaw.com
Addressing these challenges involves seeking professional advice, staying informed about legal developments, and utilizing available digital tools for asset management.​
Tools & Platforms Catering to Gen Z
Several platforms are emerging to assist Gen Z with estate planning:​
- Trust & Will: Offers online estate planning services tailored to individual needs.​
- FreeWill: Provides free tools to create wills and designate beneficiaries.​
- Casa: Specializes in secure management of cryptocurrencies and digital assets.​
- 1Password: A password manager that helps in organizing and securing digital credentials.​
These tools simplify the process of estate planning, making it more accessible and aligned with Gen Z’s digital lifestyle.​
Gen Z’s Vision of Legacy
For Gen Z, legacy transcends financial wealth. It encompasses: (​trustedelderlaw.com)
- Personal Values: Ensuring that their beliefs and ethics are remembered and upheld.​
- Digital Footprint: Managing how their online presence is preserved or deleted. ​Shoup Legal
- Social Impact: Contributing to causes they care about through charitable bequests.​
This holistic view of legacy reflects a desire to make a meaningful and lasting impact beyond material possessions.​
Final Thoughts
Gen Z is pioneering a new era of estate planning that reflects their digital nativity, diverse relationships, and value-driven mindset. By embracing flexible structures, prioritizing digital assets, and focusing on personal values, they are ensuring that their legacies are comprehensive and reflective of their identities. As legal frameworks and tools continue to evolve, it’s imperative for Gen Z to stay informed and proactive in planning for the future.
