What does estate planning have to do with college preparation?
In a word, everything.
When your child turns 18, you no longer have the right to handle their finances, sign contracts, or see college bills and transcripts – even if you’re the one paying them. A Power of Attorney ensures you can continue to help your children with the next chapter in their lives.
When your child turns 18, you also lose the legal right to make health care decisions for your child. A Health Care Directive maintains your right to view medical records, fill prescriptions, or make important medical decisions.
When your child turns 18, you’re not out of his or her life. Not by a long shot. Power of Attorney and Health Care Directive documents ensure that you can still act on your child’s behalf. You might never need to use these documents, but if you do, you’ll see the power of planning ahead.