As summer winds down and the familiar hum of back-to-school preparations fills the air, many of us parents are busy checking off our to-do lists. We’re scrambling to gather school supplies, organize wardrobes, and adjust to the idea of earlier bedtimes. As a mom of two, I completely understand the whirlwind that is the back-to-school season. But, as an attorney who specializes in real estate, estate planning, probate, and guardianship, I also know this is an ideal time to tackle another important checklist: your legal documents.
While the kids are getting their backpacks ready, it’s crucial to think about what you need to have in place, especially if you have a child heading off to college. This is a milestone that brings with it a mix of emotions and responsibilities. Along with setting up their dorm rooms and making sure they have the right meal plan, consider whether you’ve addressed the legal aspects of this new chapter in their lives.
Why Now is the Perfect Time
The back-to-school season is all about fresh starts, and it’s a great time to ensure your estate planning documents are up to date. Here’s why it’s particularly important:
- College-Bound Students: Once your child turns 18, they are legally considered adults. This means you no longer have automatic access to their medical records or the ability to make financial decisions on their behalf. By setting up a healthcare proxy, power of attorney, and other essential documents, you can ensure you’re able to step in if needed.
- Guardianship Considerations: If you have younger children, it’s crucial to ensure that guardianship documents are in place. This provides peace of mind that they will be cared for by someone you trust if anything happens to you.
- Estate Planning Updates: Life changes rapidly, especially as your children grow. It’s important to revisit your will, trusts, and other estate planning documents to make sure they reflect your current wishes and financial situation.
Getting Started
Taking the time to address these legal matters now can save you from potential headaches down the road. If you’re not sure where to start, here are a few steps to guide you:
- Review Your Existing Documents: If you’ve already done some estate planning, now is a good time to review those documents. Make sure they still align with your current circumstances and goals.
- Consult with an Attorney: Estate planning can be complex, and every family’s situation is unique. Consulting with an experienced attorney can help you navigate the process and ensure that everything is in order.
- Prioritize Your Child’s Needs: Whether it’s setting up a power of attorney for a college student or designating a guardian for younger children, make sure your planning reflects your family’s specific needs.
Final Thoughts
As you prepare your kids for the new school year, don’t forget to prepare yourself as well. Ensuring that your legal documents are up to date is one of the best ways to protect your family and provide peace of mind. After all, just as we teach our children to be prepared for the school year ahead, we should also be prepared for life’s unexpected events.
So, as you check off those back-to-school lists, take a moment to add one more item: a review of legal documents.