Don't Forget the Essentials: Estate Planning for College-Bound Kids
Sending your child off to college is a momentous occasion. Dorm room must-haves, packing lists, and goodbyes are all part of the process. But amidst the excitement, there's one crucial step that often gets overlooked: estate planning for your young adult.
How College Affects Custody Agreements
When your child goes off to college, it is a huge milestone for them and brings about a lot of changes in their daily lives. However, when you have divorced or have a custody agreement with the co-parent, your child going to college can bring about some big changes for you and your co-parent as well. It’s important to be prepared for what your child leaving for college can mean for your custody agreement.
Attention, Parents: It’s Time to Chat About Important Family Decisions with Your College-Bound Student
Let’s chat for a minute about what happens when your student heads off to college and inevitably turns 18. Aside from having a party and celebrating the momentous occasion of emerging adulthood, you’re going to need to consider what it means for them to have achieved adult status. Their new status allows them to vote, serve in the military, serve on a jury, sign a contract, and get married without your consent. They can be on the hook for loans or lines of credit (credit cards) that they take out. This is the time to talk to your student about credit cards, loans, financing, repayment, credit scores, etc. - all the fun things that come along with officially becoming an adult!