Back to School: Estate Planning for Your Child
That first day of school is both excitedly anticipated and woefully dreaded in many households. What to wear the first day? Should the kids pack or buy lunch? How many pens will it take to fill out all those forms? We are, admittedly, suggesting that you add one more thing to your back-to-school to do list, estate planning.
For the Parents of Elementary and Secondary School Children
As you fill out those annual back to school emergency forms, think about whom would be the best fit to serve as guardians of your children if tragedy struck. Select two individuals or couples and put it in writing, identifying your first and second choices.
For the Parents of College Age Children
Your baby is leaving for college, however your “baby” has attained the age of 18, which means you no longer have the legal right or ability to make health care decisions or communicate with doctors and other medical staff on their behalf. You can’t even access your child’s medical records. It is important you take legal planning steps immediately.
- This means that, at a minimum, your child needs to sign a Health Care Power of Attorney and HIPAArelease.
- We recommend that you also have your child sign a General Durable Power of Attorney, so you can handle banking and payment matters, and a Will, so you can serve as Personal Representative, if need be.
For the Parents of Children of Any Age
If your estate plan hasn’t been professionally reviewed in the last 3 to 5 years, now is the time. Get it done before the chaos of the holidays hit and you’re distracted.
Now is the BEST time to ensure that your children, of any age, are protected by your estate plan. Call our estate planning attorney, Charles Bratton, to schedule your consultation at 856-857-6007.