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. Here at Egan Law Center, we put a list together for you to help navigate this journey a little easier.

Here's why it's important, and what you need to know:

From Teen to Legal Adult

The big one: at 18, your child becomes a legal adult. This means you lose automatic access to their medical records and the ability to make decisions on their behalf if they're incapacitated.

Peace of Mind with Power of Attorney

A Power of Attorney allows your child to designate a trusted person (likely you!) to make financial and medical decisions if they can't. This ensures critical choices are made according to their wishes, especially during emergencies.

The Importance of Healthcare Directives

A Healthcare Directive (often called a Living Will) outlines your child's wishes for medical care in the event of a serious illness. This empowers them to have a say in their treatment and guides medical professionals.

Will They? Wills for Young Adults

While young adults might not have extensive assets, a Will ensures their belongings (dorm room items, laptops, etc.) go to their chosen beneficiaries. It also allows them to appoint a guardian for any minor siblings in case of unforeseen circumstances.

Planning for the Future

Estate planning isn't just about the present. It's about giving your child control over their future. It fosters open communication about important topics and gives you peace of mind knowing they're prepared.

Taking the Next Step

An estate planning attorney can guide you through the process, tailoring documents to your specific situation. Don't wait for a crisis; take action now to ensure your child's well-being, no matter what life throws their way.

Remember: Estate planning is an investment in your child's future. It's about empowerment, open communication, and the knowledge that they'll be cared for, no matter what.

Start the conversation today and give them the gift of peace of mind.

Feel free to contact Attorney Lindsey Egan with any questions or concerns. We are here to help and make the process as smooth as the first day of school.