A Will is one of several documents in a recommended individualized estate plan. It is important that you work with a lawyer experienced in estate planning to be sure your estate plan covers certain major issues, including but not limited to:

1. Who do you want to be the Personal Representative of your estate? The Personal Representative is in charge of carrying out your directions and wishes as expressed in the Will. They will also pay any outstanding debts and distribute assets as you express in the document.
2. Who do you want to be the legal guardians for your minor children until they become adults (age 18), if something were happen to you?
3. What do you want done with both your tangible and intangible property?

I cannot emphasize how important it is to have a clearly written estate plan.  Leaving your family and friends without a valid will in place can result in confusion as to who is to be the proper guardian of your minor children, can result in descendants of yours receiving assets from your estate which you may  not have intended them to be the beneficiary of and often further results in litigation.

Without a Will, the probate court is forced to name a Personal Representative (executor) of your Estate and there is the possibility that the appointed individual is not who you would have chosen. Why let someone else decide who has control over distributing your Estate when you can make that choice yourself?

A Gallup poll taken in 2015 indicated that only forty-four percent of Americans say they have a will that describes how they would like their money and estate handled after their death. Thus, if you already have a Will (and other necessary estate planning documents) you are better prepared for the inevitable than over one-half of Americans. Yet, just because you created an estate plan at one point does not mean that it keeps up with your life changes.

While estate plans never expire, for your will to be most effective it needs to be reviewed at least semi-annually and updated as needed. Common scenarios for estate plan revisions can be any major life event such as a death in the family, change in marital status, birth of a child, major changes in financial situation, and moving out of state. Your estate plan should also be updated as your goals change. For example, you may want to alter the amounts of inheritance or increase/decrease charitable bequests.

Let’s celebrate National Make-A-Will Month together!  Call me to set up a conference to discuss your estate planning needs.

What we, as parents of young adults, often fail to think about is planning not for our children, but by our children. I, like many of my friends, am about to become an “empty nester”.  My older daughter is about to begin her senior year in college and my youngest is about to begin her freshman year.  As we scour websites to see what their dorms or apartments are going to look like, buy every school supply known to man and prepare for the inevitable parental tears from knowing that the kids are away and mom and dad are going to have to reintroduce ourselves to one another, we need to consider important legal documents that can protect our young adults and our ability to act as their guardian in emergency situations.

While I can agree, that while important, a Last Will and Testament may not be a priority for my eighteen year-old and twenty-one year old daughters – however, I cannot stress the importance of them having other essential advance directive documents in place.  In no particular order, I recommend that anyone over the age of 18 have the following:

Designation of Health Care Surrogate With Hipaa Authorization

A signed Designation of Health Care Surrogate communicates your wishes in case you are unable to make medical decisions or communicate this information due to a medical emergency or incapacity. This form will also contain a Health Insurance Portability and Accountability Act (HIPAA) authorization by your adult child naming you as a designated “surrogate” giving you the ability to ask for and receive information that would normally be protected from you from your child’s healthcare practitioners about their health status, progress, and treatment. Without a HIPAA authorization in place, the only other way to obtain information regarding your child’s health would be to have a court appoint you as his or her legal guardian.

Living Will and Health Care Proxy

A Living Will is a statement indicating you would not want to be kept alive by life-sustaining measures if in a coma or vegetative state with no hope of recovery.

Durable Power of Attorney (POA)

A Durable Power of Attorney authorizes a trusted person (tin the case of young adults, ypically parents or legal guardians who are referred to as “attorney-in-fact”) to make important decisions or conduct matters on behalf of the young adult, even after they become incapacitated. With a Durable Power of Attorney, the attorney-in-fact named would be legally permitted to take care of important matters for your young adult, if they’re unable to do so themselves. The powers granted to the attorney-in-fact are broad and provide the ability to make medical, legal, and financial decisions on the young adult’s behalf.

The thought of needing these documents is not something that any parent wants to think about. Unfortunately, with the Coronavirus being such a changing force in our daily lives, there could not be a better time to consider and prepare for this scenario.

While we are on shelter at home Order, I will be offering a fifty percent student discount on my advance directive packages for young adults between the ages of 18-25 or alternatively, to be included at no charge to be as part of a full estate planning package for the parents of young adults.