Back to School. It’s the time of year when we make sure the kids have the school tools they need to be successful: notecards, glue stick, composition books, texts books, and mini-fridges. Are your kids – whether they are 7 or 19 (or 29) – prepared if the unexpected were to happen to you? How do we provide the tools and prepare our children to be successful in the School of Life?
By getting your estate plan in place, you get to make choices for you and your family:
- Who will be guardian of my minor child if I die or am incapacitated?
- Who will control and safeguard my finances for my family if I cannot?
- Who will make medical decisions for me, if I am unable to?
- How will your assets and property be distributed if you pass away?
- How can your land and money be protected from lawsuits, divorces, and creditors?
Do you want the Court to make these decisions for you and your family? Do you want a family member you wouldn’t choose caring for the wellbeing of your child or managing money for them? By sitting down with an attorney and making these types of decisions you are protecting your family from the What Ifs.
For those with kiddos over 18, make sure they also have the paperwork that protects them and also allows you to be in-the-know and protect them:
- Durable Power of Attorney for Health Care
Once a child reaches the age of 18, a parent’s decision-making role is significantly diminished, especially in regard to making healthcare decisions and financial decisions. If you want to ensure that you can continue to make healthcare decisions for your child should a health situation arise, creating a health care power of attorney should be at the top of your to-do list.
- HIPAA Authorization
In order to make informed medical decisions, it’s important to include a HIPAA authorization form along with a health care power of attorney. Without it, as parents, you would be unable to communicate with healthcare professionals and insurance companies, as well as unable to access your child’s health records and previous treatment information.
- Durable Financial Power of Attorney
Similar to a health care power of attorney, a financial power of attorney gives parents the ability to help with financial decisions on their child’s behalf should they be unable to do so themselves and also to provide parents access to financial information. Should your child become disabled for any reason or be involved in an accident and need help afterwards while recovering, as parents, you would still be able to pay their rent, credit card bills, utilities, access bank accounts and financial records, as well as manage any loans they may have.
- College Kits
For those with kids that are now off to college, keep in mind that we can help you prepare the documents you need, such as powers of attorney and advance healthcare directives at a reduced rate, to ensure you will have access to all the information about your children’s medical and financial situation, as well as how they will be cared for in an emergency. Our College Kits provide your adult children with an emergency medical card to keep in their wallets. And in the process, allow you to sleep better at night while your kids are away at school.
We love our kids and want to protect them, no matter their age. Let’s take this new school year and let it be a fresh start to finally take this step to care for your family. We understand that you’ve built your life around those you love, and we would be honored to help you create a plan that mirrors your intention to love and care for the most important people in your world. By setting yourself and your children up with the right tools and seeking an attorney who knows the ropes well, you’ll make it through with high marks.
If you are interested in learning how we can assist you and your family with estate planning, business planning and elder law, please contact Legacy Law Firm, P.C. at (605) 275-5665 to schedule a free consultation today.