It’s around this time of the year when we receive phone calls from parents. Generally, it’s usually the children who come to us and talk about estate planning for their parent(s).This time however, it’s the parents who are coming to us to inquire about estate planning for their children. Why? Because their children are leaving for college. In some cases, the children are going to college somewhere that’s hours away, or maybe even in a completely different State. It’s understandable as to why parents would inquire about gaining power of attorney over their child. Should any unfortunate injury or illness befall onto the child, the parents could then legally act on behalf of that child and make important decisions. So when we’re asked about estate planning for these college-bound children, we offer a Living Will.
What’s a Living Will?
A Living Will (also known as a Patient Advocate Designation) is a document that allows the subject of the Will to state an end-of-life medical care plan. One of the reasons why is because this will allow medical caretakers to abide to the individuals request, should he or she be unable to communicate. Generally, these are used for individuals who are older, but for an 18-year-old or anyone leaving home for the first time, the Living Will can allow the individual to choose to allow various things, such as medical rights to any third party, and they can act when or if the subject is unable to do so. Without a Living Will, it would be required to gain authority over that individual if he or she were unable to communicate their wishes. In this case, you would need to go to court and establish a guardianship.
If you have questions about a Living Will, the form, the process, or anything related guardianships or estate planning, give us a call at (877)-YOUR-FIRM. We’ll gladly explain everything you have questions about and provide you estate planning or guardianship legal services if you need that.