Basic Estate Planning Documents For the Just-Turned 18 Year Old. Is it necessary?
High School graduation is a culmination of one’s academic accomplishments at a scholastic institution. It is also usually a time of change. Upon graduation, one’s life is going to change and progress into another phase. It may also be a time of change when it comes to estate planning documents, both when it comes to the graduate and the graduate’s parents.
Parents are considered by law the natural guardians of their minor children. Minor children are those under the age of 18. Therefore, those under the age of 18 have no great need for estate planning documents . However, what happens when one reaches the age of 18? He or she is now a legal adult and the parents no longer have a legal right to speak on behalf of or act on behalf of the child. Therefore, when a child becomes a legal adult, one should strongly consider basic estate planning documents for the child.
Documents for the 18 Year Old to Consider:
A power of attorney for health care and possibly a living will in addition would allow the parent to speak for the … Read More... “My Child Just Graduated High School. What are the Estate Planning Considerations?”