Estate Planning

When You Become 18

By Jennifer Sawday

A few things, well, make that a lot of things, happen once someone turns age 18.

The State Bar of California has a publication free for downloading called: "When You Become 18: A Survival Guide For Teenagers."

Click here for more information directly from the State Bar and to download your own copy.

As an estate planning attorney, a few things immediately come to mind when someone turns age 18. Mom and Dad cannot make decisions for you anymore. This may be good or bad, but depending on how you feel -- it is a wise idea to have a Durable Power of Attorney and Advance Health Care Directive put in place to nominate who should make financial and medical decisions on your behalf in the event you are not able to do so.  It may also be a good idea to draft a Will to name who should be in charge of your estate and get your stuff if you pass away.  Also, if you own significant assets, it may also be wise to have a Trust set up as well.

Having these kinds of documents in place may be especially important if you come from a blended family, have estranged parents or some other situation where these kinds of documents would be useful to avoid a sticky situation or conflict later.

Lots to think about when you are an adult!
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Estate Planning, Probate and Trusts involve complex areas of law. Individual circumstances must be considered before any advice can be given.  The general information above is not to be construed as legal advice, which can only be given after consideration of the unique facts of each matter. Please seek the advice or counsel of your attorney, financial advisor or CPA as it may be appropriate.

Full post as published by Estate Planning Practice Blog on May 17, 2008 (boomark / email).