The importance of protecting young adults as they start the next chapter of their life
We spend most of our parenting life protecting and nurturing our children until the time they are ready to take on the world themselves. As they start to leave home, go to college, and start the rest of their lives, we, as parents, find our new place as their ever-present supporter and the ones who are called when there is a problem. As a father of three girls, two of which are now over the age of 18, I know exactly how hard this transition is as the protection we used to offer becomes limited.
In the past couple of years, I have had inquiries about the importance of estate planning in a young adult’s life. Wills and especially Financial Powers of Attorney and Health Care Powers of Attorney are very important in safeguarding young adults in their next stages of life. These documents offer parents or others the capability of stepping into the position of protector if ever a young adult gets into a situation where they need one.