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The Future of Inheritance: How Millennials Are Rewriting the Rules on Estate Planning – Presented by RockpointProbate.com

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EL SEGUNDO, Calif., Sept. 30, 2024 /PRNewswire/ — Rockpoint Probate announces a shift in estate planning as millennials prioritize digital assets, social causes, and flexibility, fundamentally changing the landscape of inheritance. Millennials. You’ve heard the gripes. They’re killing everything from plastic straws to homeownership. But here’s one thing they’re saving, or at least seriously shaking up—estate planning. Yeah, that’s right. While older generations may have tucked away their wealth and handed it over in a neat little package after they passed, millennials are looking at the whole deal differently. They’re less interested in the traditional ways of passing down wealth and more focused on new priorities—like digital assets, environmental responsibility, and making sure their lives reflect the kind of values they’ve lived by.

And it’s not just about doing things differently; it’s about making sure estate planning, that often dusty process for lawyers and accountants, catches up with the times. So how are they doing it? Let’s take a closer look at how millennials are shaping the future of inheritance and what that means for all of us.

Digital Assets: A New Kind of Inheritance

You probably wouldn’t have caught your grandfather worrying about his social media accounts when writing a will, right? But for millennials, who grew up with the internet humming away in the background, digital assets are just as important as the physical stuff. We’re talking everything from Bitcoin wallets to Instagram accounts with tens of thousands of followers, to online businesses they’ve built from scratch.

The real kicker? They’re not waiting until they’re gray and stooped to worry about it. They’re making plans now, drafting instructions for what happens to their digital lives when they’re gone. Some are appointing “digital executors”—yes, that’s a thing now—to take care of their online presence after they’re not around to tweet anymore.

As a result, the legal world is playing catch-up. Unlike grandpa, who knows a guy who knows a guy, Millennials search for well reviewed attorney online. Estate planning documents are starting to explicitly call out digital assets, and lawmakers are scrambling to write guidelines for an online afterlife. For millennials, this isn’t just about keeping up appearances. It’s about recognizing that digital stuff is real stuff, and it matters.

Money with Meaning: Social and Environmental Causes Matter

And then there’s the social stuff. Millennials aren’t exactly known for being shy about their passion for causes—social justice, environmental sustainability, and charitable giving. Their estate planning reflects those values, too. It’s not just about leaving a nest egg for the kids or passing on a family home. More and more, millennials are setting up their wills and trusts to ensure that their wealth continues making a difference long after they’ve checked out.

Charitable remainder trusts and donor-advised funds? You bet. For this generation, giving back is part of the package. And they’re smart about it, too, making sure their money goes where they want it—whether that’s protecting the planet, funding social causes, or ensuring their investments line up with sustainable values.

It’s a pretty sharp contrast to their predecessors, who often viewed wealth transfer as a way to secure the family name and fortune for generations to come. Millennials, though, want to make sure their wealth, however modest or grand, contributes to something bigger than themselves. That’s where their hearts are—giving back to the world while they’re still here and after they’re gone.

Flexibility and Control: Keeping the Reins Tight

Here’s another thing: Millennials like to keep their options open. Whether it’s switching jobs, changing cities, or rethinking life plans, they’re all about flexibility. Like Legal Loans, Inheritance Loans have become popular among Millennials. So when it comes to estate planning, they don’t want something set in stone at 35, only to be dragged along for the rest of their lives. They want to tweak, update, and control their future even when they’re not around.

This is where revocable living trusts come in—giving them control over their assets now and the ability to update plans as life inevitably changes. Millennials, unlike their grandparents, don’t view estate planning as a one-and-done deal. They see it as a living, breathing document that can be adjusted as they grow older, wealthier (hopefully), or have new ideas about where their money should go. Many Millennials are opting to secure Inheritance Funding to pay off their debts, start businesses, and manage their own estate rather than wait for Probate.

That flexibility is a key difference between them and the generations before. Sure, older folks used trusts and estate plans, but the idea of continuous control—even beyond the grave? That’s where millennials shine.

Estate Planning in the Age of Technology

But perhaps the biggest shift in millennial estate planning comes down to their comfort with technology. This generation lives and breathes digital tools, so it’s no surprise that they’re not waiting for some stuffy meeting in a wood-paneled office to get their affairs in order. They’re using online platforms, creating estate plans digitally, and signing off with e-signatures. In fact, some are even using blockchain to track assets for added security.

Estate planning services have noticed the trend, with more and more offering digital-first solutions that let users craft their wills, trusts, and other legal documents with just a few clicks. It’s estate planning for the click-and-swipe generation, offering convenience and ease at a fraction of the traditional cost.

And as the demand for digital estate planning grows, companies are getting smarter about ensuring privacy, safety, and security in ways that haven’t been seen before. No more filing important papers in a fireproof box under the bed—everything’s going to the cloud.

Financial Independence Over Inheritance

Here’s the thing: If you talk to a millennial about inheritance, don’t be surprised if they look at you a little sideways. Unlike previous generations who often banked on receiving a hefty check or a house in the will, millennials aren’t waiting around for an inheritance to secure their futures. They’re planning for financial independence—and that’s the real game changer.

Many of them are creating estate plans that focus more on funding their personal growth and financial independence than passing down wealth to the next generation. They’re thinking about student loans, home ownership (when they can afford it), and entrepreneurship. They’re not looking for a windfall; they’re looking to build something solid on their own.

What’s fascinating here is the mindset shift: Millennials see inheritance as a possible bonus, not the foundation of their financial plans. And they’re setting up their own estate plans with that same thought—thinking less about a windfall for future generations and more about teaching financial literacy, creating opportunities for growth, and making sure the people they leave behind have the tools to build their own financial futures.

A Whole New Approach to Legacy

In short, millennials are rewriting the playbook on estate planning. They’re thinking beyond the traditional boxes—rethinking wealth, inheritance, and what it means to leave a legacy. They’re more interested in living a meaningful life that reflects their values—whether that’s managing digital assets, contributing to causes they care about, or maintaining flexibility over their wealth distribution.

It’s a brave new world for estate planning professionals, who are learning quickly that to stay relevant, they need to offer services that meet the millennial generation where they are: online, on-the-go, and with an eye on the future. Inheritance isn’t dead—far from it. But it’s evolving, and the millennials are the ones leading the charge.

So, the next time someone tells you millennials are killing tradition, remind them—when it comes to estate planning, they’re not just breaking the mold. They’re creating a new one. And, like so many other things, they’re doing it their own way.

For more information about Rockpoint Probate Funding and its services, please visit www.rockpointprobate.com 

Media Contact:
Rockpoint Probate Funding
Dan Burks-Goodman
Marketing Director
424-502-4645 x 894
dbg@rockpointprobate.com
www.rockpointprobate.com 

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SOURCE Rockpoint Probate Funding

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Cineverse Appoints Rey Puentenegra as Vice President, Corporate Controller

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LOS ANGELES, Nov. 5, 2024 /PRNewswire/ — Cineverse (NASDAQ: CNVS), an innovative streaming entertainment and technology company, today announced that it has hired Rey Puentenegra as Vice President, Corporate Controller. Leveraging over 20 years of combined experience across the Industry, Audit and Regulatory Sectors, Puentenegra will oversee all financial and accounting functions across Cineverse’s entire business. He will manage day-to-day operations of the accounting department while taking ownership of corporate accounting, regulatory and financial reporting, audit preparation, and the continual development of internal control policies and procedures. Puentenegra’s appointment is effective immediately, and he will report directly to Mark Lindsey, Chief Financial Officer of Cineverse.

For more than two decades, Puentenegra has been responsible for financial and accounting management, SEC reporting and technical accounting, IPO and SPAC consulting, and process systems implementation and optimization across public and private companies, Big 4 accounting firms, and the Public Company Accounting Oversight Board (PCAOB). Prior to joining Cineverse, Puentenegra served as Controller at YOUNGLA, a fitness and lifestyle apparel e-commerce company, where he oversaw the finance and accounting team as well as managed an outside accounting firm and the company’s primary banking relationship. He was responsible for developing and implementing the initial finance operations structure in addition to the company’s Enterprise Resource Planning. Throughout his career, Puentenegra has served in finance and accounting roles for KPMG, PricewaterhouseCoopers (PwC), Reading International, Global Eagle Entertainment, Corporate Finance Group, XOS, and Spatial Genomics. As Inspections Specialist at PCAOB, he inspected the audits of the Big 4 and mid-tier firms in both the U.S. and foreign jurisdictions.

In connection with his joining the Company, Puentenegra received stock appreciation rights (the “SARs”) for 85,000 shares of Cineverse’s Class A Common Stock (the “Common Stock”), having a ten-year term and an exercise price equal to $2.74, and vesting 1/3 on November 4 of each of 2025, 2026 and 2027. The grant of SARs is an inducement grant pursuant to NASDAQ listing Rule 5635(c)(4).

ABOUT CINEVERSE

On a mission to uplift storytellers and entertain fans with the power of technology, Cineverse  (NASDAQ: CNVS) distributes over 71,000 premium films, series, and podcasts. Engaging over 150 million unique monthly users, Cineverse delivers more than one billion minutes of curated content each month – connecting fans with stories that resonate.

With properties like the box office sensation, Terrifier 3, iconic horror destination, Bloody Disgusting, the Bob Ross Channel, women’s entertainment channel Dove, and a leading podcast network, Cineverse is the first stop for audiences seeking authentic and experiential content. From a vibrant lineup of titles and fandom channels, to next-gen advertising offerings and streaming solutions, Cineverse is setting the stage for a new era of entertainment.

Contacts:

For Media
The Lippin Group for Cineverse, cineverse@lippingroup.com

For Investors
Julie Milstead, investorrelations@cineverse.com

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SOURCE Cineverse Corp.

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Cboe Global Markets Reports Trading Volume for October 2024

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CHICAGO, Nov. 5, 2024 /PRNewswire/ — Cboe Global Markets, Inc. (Cboe: CBOE), the world’s leading derivatives and securities exchange network, today reported October monthly trading volume statistics across its global business lines.

The data sheet “Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report” contains an overview of certain October trading statistics and market share by business segment, volume in select index products, and RPC/net capture, which is reported on a one-month lag, across business lines.

Average Daily Trading Volume (ADV) by Month

Year-To-Date

Oct

2024

Oct

2023

%

Chg

Sep
 2024

%

Chg

Oct

2024

Oct

2023

Chg

Multiply-listed options (contracts, k)

10,793

11,230

-3.9 %

10,459

3.2 %

10,610

10,885

-2.5 %

Index options (contracts, k)

3,976

4,534

-12.3 %

4,130

-3.7 %

4,097

3,765

8.8 %

Futures (contracts, k)

187

292

-36.0 %

232

-19.6 %

243

227

6.7 %

U.S. Equities – On-Exchange (matched shares, mn)

1,289

1,376

-6.4 %

1,234

4.4 %

1,360

1,396

-2.6 %

U.S. Equities – Off-Exchange (matched shares, mn)1

77

81

-5.6 %

85

-9.1 %

78

81

-2.8 %

Canadian Equities (matched shares, k)

158,622

137,305

15.5 %

148,628

6.7 %

145,790

134,538

8.4 %

European Equities (€, mn)

10,534

9,277

13.6 %

10,121

4.1 %

9,681

9,498

1.9 %

Cboe Clear Europe Cleared Trades2 (k)

117,528

100,398

17.1 %

102,208

15.0 %

1,017,755

990,488

2.8 %

Cboe Clear Europe Net Settlements2 (k)

1,042

873

19.4 %

943

10.5 %

9,278

8,406

10.4 %

Australian Equities (AUD, mn)

777

719

8.0 %

891

-12.8 %

788

699

12.7 %

Japanese Equities (JPY, bn)

288

196

47.0 %

312

-7.5 %

315

174

80.5 %

Global FX ($, mn)

44,373

47,933

-7.4 %

48,096

-7.7 %

46,805

44,363

5.5 %

1 U.S. Equities – Off-Exchange ATS Block metrics restated to incorporate a tier of sell-side activity from July 2023 and forward, previously excluded from reporting.
2 Cboe Clear Europe figures are totals (not ADV) for the months and years-to-date. Asa of April 2023, data has been restated to reflect both On-Book and Off-Book cleared trades.

October 2024 Trading Volume Highlights

Cboe Europe

Cboe Europe Periodic Auctions reported a record average daily notional value (ADNV) of €2.5 billion, beating the previous record of €2.4 billion in September 2024.Cboe Clear Europe processed 117.5 million client trades in October, its highest monthly volumes in 2024. Additionally, it cleared its first trades on Deutsche Börse, introducing competitive clearing to the German market.

About Cboe Global Markets

Cboe Global Markets (Cboe: CBOE), the world’s leading derivatives and securities exchange network, delivers cutting-edge trading, clearing and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives and FX across North America, Europe and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more about the Exchange for the World Stage, visit www.cboe.com.

 

Cboe Media Contacts

   Cboe Analyst Contact

Angela Tu 

Tim Cave

Kenneth Hill, CFA 

+1-646-856-8734 

+44 (0) 7593-506-719

+1-312-786-7559 

atu@cboe.com

tcave@cboe.com

khill@cboe.com

 

CBOE-V

Cboe®, Cboe Global Markets®, Cboe Volatility Index®, and VIX® are registered trademarks of Cboe Exchange, Inc. or its affiliates. Standard & Poor’s®, S&P®, SPX®, and S&P 500® are registered trademarks of Standard & Poor’s Financial Services, LLC, and have been licensed for use by Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.

Any products that have the S&P Index or Indexes as their underlying interest are not sponsored, endorsed, sold or promoted by Standard & Poor’s or Cboe and neither Standard & Poor’s nor Cboe make any representations or recommendations concerning the advisability of investing in products that have S&P indexes as their underlying interests. All other trademarks and service marks are the property of their respective owners.

Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.

Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.

Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.

There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: https://www.cboe.com/us_disclaimers/

Options involve risk and are not suitable for all market participants. Prior to buying or selling an option, a person should review the Characteristics and Risks of Standardized Options (ODD), which is required to be provided to all such persons. Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606. 

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SOURCE Cboe Global Markets, Inc.

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Patrick Industries to Participate in Upcoming Baird Conference

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ELKHART, Ind., Nov. 5, 2024 /PRNewswire/ — Patrick Industries, Inc. (NASDAQ: PATK) (“Patrick” or the “Company”), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, will participate in Baird’s 2024 Global Industrial Conference on November 12, 2024.

Andy Nemeth, Chief Executive Officer, and Kip Ellis, President – Powersports, Technology and Housing, will participate in a fireside chat as well as engage in one-on-one meetings with institutional investors and analysts. The conference will be held at the Ritz-Carlton in Chicago.

Please contact Baird for attendance information and additional details. 

About Patrick Industries, Inc. 
Patrick (NASDAQ: PATK) is a leading component solutions provider serving the RV, Marine, Powersports and Housing markets. Since 1959, Patrick has empowered manufacturers and outdoor enthusiasts to achieve next-level recreation experiences. Our customer-focused approach brings together design, manufacturing, distribution, and transportation in a full solutions model that defines us as a trusted partner. Patrick is home to more than 85 leading brands, all united by a commitment to quality, customer service, and innovation. Headquartered in Elkhart, IN, Patrick employs approximately 10,000 skilled team members throughout the United States. For more information on Patrick, our brands, and products, please visit www.patrickind.com

Forward-Looking Statements  
This press release contains certain statements related to future results, our intentions, beliefs and expectations or predictions for the future, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any projections of financial performance or statements concerning expectations as to future developments should not be construed in any manner as a guarantee that such results or developments will, in fact, occur. There can be no assurance that any forward-looking statement will be realized or that actual results will not be significantly different from that set forth in such forward-looking statement. Information about certain risks that could affect our business and cause actual results to differ from those expressed or implied in the forward-looking statements are contained in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and in the Company’s Forms 10-Q for subsequent quarterly periods, which are filed with the Securities and Exchange Commission (“SEC”) and are available on the SEC’s website at www.sec.gov. Each forward-looking statement speaks only as of the date of this press release, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date on which it is made. 

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SOURCE Patrick Industries, Inc.

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