What Do 18-Year-Olds Care About Estate Planning?
They don’t. Let’s face it. Your child who has one foot out the door for college probably cares a great deal more about what’s on their smartphone than about estate planning. And why would they when they’re not quite in a phase where they’re beginning to accumulate wealth and assets?
You, on the other hand, are a completely different story.
As a parent, it’s imperative that you have a number of essential healthcare documents in place so that you know that you can be involved in any necessary care decisions.
For example, a sudden hospitalization of your child could bring doctors and various records into the equation. Taking basic steps such as a health care power of attorney or a HIPAA release may avoid needless stress and delays.
It’s also an opportunity for you as parents to talk with your child about this topic in a very straightforward and surface level way to make sure that they’re attuned to it.
Sure, you may get an eye roll or two from them, but it’s still not too early to have the first of what hopefully will be many estate planning-related conversations in the years to come with them. It impacts their life too. And if you’d like, we’re here at Windy City Legal to help make it a smoother conversation for you.
We’ve talked a lot about your personal life, but what considerations do you need to think of if you’re a business owner? Plenty – from formation to when you’re nearing retirement. Follow us on the next stage on the path in Estate Planning for Life to see how to get your professional house in order with the help of Windy City Legal.