Estate Planning for Gen X: Why You Can’t Wait Until Retirement in North Carolina

If you were born between 1965 and 1980, you’re part of Generation X, the so-called “middle child” between Baby Boomers and Millennials. You grew up with cassette tapes, MTV, and landline phones. Today, you’re balancing demanding careers, raising kids (or launching them into adulthood), and caring for aging parents. Retirement may feel like something far off in the distance. After all, you’ve still got plenty of time to plan… right?

Not exactly. Waiting until retirement to create an estate plan is one of the biggest mistakes Gen X can make. Life has a way of throwing curveballs, and without a plan, your loved ones may be left navigating unnecessary expenses, probate delays, and even family conflict. Estate planning isn’t just about what happens after you’re gone. It’s about protecting your family, your assets, and your future right now.

A Story Too Close to Home

Consider this story:
Sarah, a 52-year-old professional living in Raleigh, put off creating an estate plan because she thought she had “plenty of time.” Then the unexpected happened. Her husband passed away suddenly, leaving behind two teenagers and a mortgage. Without wills, powers of attorney, or trusts in place, Sarah spent months in North Carolina probate court, struggling with legal red tape and financial uncertainty while trying to keep life steady for her kids.

What hurt the most? She realized all of this could have been avoided with some planning done years earlier.

Unfortunately, Sarah’s story isn’t unusual. Many Gen X families are caught unprepared because estate planning seems like something only retirees need to think about.

Why Gen X Can’t Wait

1. You’re Likely in Your Peak Earning Years

By your 40s and 50s, you’ve built up retirement accounts, maybe bought a home (or two), and possibly started investing in real estate or small businesses. Without a plan, these assets may go through probate, costing your heirs time and money. Estate planning ensures your wealth transfers smoothly, and on your terms.

2. You Still Have Children at Home (or in College)

If you have minor children, naming a guardian is one of the most critical estate planning steps you can take. If something happens to you and your spouse, do you really want a judge deciding who raises your kids? Even with college-age children, you need powers of attorney and healthcare directives in place. Once your child turns 18, you no longer have the automatic legal right to make decisions for them.

3. The Sandwich Generation Burden

Gen X is famously “sandwiched”- caring for both kids and aging parents. Without proper planning, you could find yourself drained emotionally, financially, and legally. Estate planning allows you to set up structures (such as trusts) that protect your parents’ assets and ensure you don’t shoulder the entire caregiving cost alone.

4. Unexpected Health Events

No one likes to think about illness or incapacity, but the truth is, it happens. A sudden stroke, cancer diagnosis, or accident can leave you unable to manage your finances or make healthcare decisions. Powers of attorney and healthcare directives protect you and relieve your loved ones from stressful guesswork.

Story: A Near Miss

Mike and Jennifer, both in their late 40s and living in Wake County, finally scheduled an estate planning meeting after a health scare. Mike, an otherwise healthy dad of three, had a heart attack at 47. Thankfully, he recovered. But lying in the hospital bed, he realized that if the outcome had been different, Jennifer would have been left to figure out bank accounts, mortgages, and college tuition, without any legal authority.

That wake-up call pushed them to create a comprehensive plan: wills, trusts, powers of attorney, and beneficiary updates. Today, they sleep better knowing their family is protected.

What Estate Planning Looks Like for Gen X

When I meet with Gen X clients in North Carolina, here’s what we typically focus on:

• Wills and Trusts: A will outlines guardianship for minor children and how assets are distributed. Trusts can keep your family out of probate, protect your home, and provide ongoing support for children.

• Healthcare Directives: A living will and healthcare power of attorney ensure your medical wishes are honored.

• Powers of Attorney: A financial power of attorney allows someone you trust to handle money and property if you’re incapacitated.

• Beneficiary Designations: Retirement accounts and life insurance policies often pass outside of probate — but only if your designations are current and coordinated with your estate plan.

• Digital Assets: From online banking to family photos, don’t forget to include access to digital accounts.

• Long-Term Care Planning: While it may feel early, Medicaid planning and long-term care insurance discussions can protect your assets later.

North Carolina Probate: A Pain You Can Avoid

Probate in North Carolina isn’t just time-consuming. It’s public and often costly. Without proper planning, your family may spend months waiting for the court to approve even routine transfers of property. A well-crafted estate plan, especially one that incorporates trusts, can avoid much of this hassle and ensure your loved ones aren’t left in limbo.

The Cost of Waiting

The number one reason Gen X tells me they haven’t done estate planning? They’re “too busy.” Between school drop-offs, aging parents’ doctor visits, and demanding careers, it never feels like the right time. But waiting until retirement (or until a health crisis strikes) can make planning far more complicated and expensive.

Imagine losing your spouse without clear beneficiary designations. Imagine your children fighting in probate court over your home. Imagine your parents’ savings being drained because you didn’t plan for long-term care.

The cost of waiting is measured not only in dollars but also in stress, conflict, and regret.

A Call to Action

Estate planning is not about fearing the future. It’s about preparing for it. Gen X has always been known as the resilient, adaptable generation. You’ve balanced Walkmans and Wi-Fi, typewriters and tablets. Now it’s time to balance today’s busy life with tomorrow’s security.

If you’re part of Generation X and have been putting off estate planning, the best time to act is now. Don’t wait until retirement. Protect your family, your assets, and your peace of mind today.

At Mackintosh Law, PLLC, I help North Carolina families like yours create estate plans that work in real life ,not just on paper. Schedule a complimentary consultation, and let’s build a plan that gives you confidence for the future.