ESTATE PLANNING FOR YOUNG ADULTS
I recently had a new client come to me with an interesting idea. I try to encourage all people to start planning and accessing their estate plans early in life. This client's son has just turned 18 and his heading off to college.
The father wants to put into place a patient advocate for health care decisions because once your child turns 18 they are in control of there health care decisions. His thinking is refreshing because God forbid his child gets injured away at college at least there would be a mechanism in place to make decisions if he is incapacitated.
Most estate planning documents can be changed so upon his son getting married the designation can be changed. Its never too early to start accessing your estate plan!
Labels: Estate Planning, Health Care Planning, Michigan Law
posted by CPG @ 7:09 PM
1 comments
1 Comments:
That is definitely a good idea.... I have my grandmother designated to make my health care decisions for me if I am incapacitated... Who knows what could happen if you don't have someone you trust taking care of you... who knows what the state would do with you...
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