Reason #7 to Talk to an Estate Planning Attorney: 18-Year-Olds Need Protection Too!

It’s that time of year again – graduation! Someone’s babies aren’t babies anymore.

Not many people think about estate planning for young adults. They don’t own anything (read: they don’t own MUCH). They’re going to be healthy and live forever. It is estate planning/probate/guardianship attorneys such as myself (and usually JUST us) who see some big scary what-ifs for these youngins that can easily be addressed and then safely forgotten until the next major life event.

The biggest concern is medical access and decision-making. Parents are used to talking to their children’s doctors, no problem. That can change at 18, particularly if the child is moving out of town for college or a job.

You might (MIGHT) still get away with talking to the pediatrician you’ve been seeing for the last 18 years, but that ER doctor doesn’t care if the car accident patient is 18 or 38. Nor does their employer (holding that most recent paycheck), landlord, tax office (vehicles), insurance company, car loan lender, credit card company, bank, or Texas Comptroller. Even colleges are limited in what information they can release without proper authority.

A Medical Power of Attorney and Durable Power of Attorney can appoint agents the child trusts to make decisions in the event of a serious injury or incapacity. These documents are far simpler and more cost effective than filing for a legal guardianship over a child to make medical decisions or make sure bills are being paid. And yes, parents do often have to file for guardianship when an adult child becomes incapacitated (and sometimes when a minor child receives money/property, but that is another issue). There is no fast lane for parents, no shortcuts.

A full Will package for young adults isn’t a bad thing to have. Parents can encourage an 18 year old to get documents in place that could serve them well until a major life change (marriage, children, establishing a career) that may affect how they want things set up. The chance of them taking the initiative to get a Will done before such a major event are minimal. If they already have kids or a spouse, proper planning is that much more urgent. Our Will package includes:

  • Will
  • Durable (Financial) Power of Attorney
  • Medical Power of Attorney
  • Declaration of Guardian Before Need Arises (for yourself)
  • Designation of Guardian for Minor Children (if applicable)
  • Directive to Physicians (preference regarding life support)
  • Appointment of Agent for Disposition of Remains (to ensure one person can handle cremation or burial arrangements without needing consent of other family members)

These are all important documents for adults, regardless of age, to have to ensure their interests are protected.

More information can be found regarding estate planning services HERE.