Anyone over the age of 18 needs an estate plan. You are probably thinking that this is a bit excessive, but it is not. Even if you are young and/or don’t have much in the way of assets, it is still important to plan to protect your quality of life and the lives you leave behind.
Health care documents such as a health care power of attorney and living will are the most important documents for a young adult to have. Once someone reaches the age of 18, their parents have no legal decision making authority over the young adult any more. This can cause many difficulties if there is some kind of medical emergency. Take the Bobbi Kristina situation as an example. She was found unresponsive, and has been determined to be in some kind of coma now. In order for her father to make medical decisions for her, he had to go to court to be appointed her legal guardian. I am sure this is the last thing he wanted to deal with in such a trying time in his family’s life. And, as in this example, many parents have a hard time making end of life choices for their children.
We recommend that as a gift to someone turning 18, give them and their family the gift of an estate plan. The tools to keep your family out of court are available, you just have to choose to use the tools that are at your disposal.
