Is today that big day? Is today the day your child becomes *gasp* an adult?
You might have been thinking of the perfect gift to give your child once they turn 18. Perhaps a vacation or a brand new car, but have you thought about a gift that will prepare them for adulthood and protect them at the same time?
A great way to do this would be to help set them up with documents such as a will, medical, and durable powers of attorney. You'll have to realize that now that your son or daughter has become of legal age, it will not be as easy for you to make those medical and legal decisions for them without the right documentation giving you authorization. If your child becomes incapacitated you will not be able handled their affairs without first obtaining a court order which will take time and cost money. And if your child should happen to die, their assets are going to end up in probate and will be distributed according to the state, no matter what they or you might have wanted.
There is no reason why you shouldn't prepare your new adult child for all of those unforeseen, and unfortunate, things that life will surely bring. So, go ahead and buy that new car, but protect them and the new car, by starting them off with an estate plan of their own.
If you live in the greater Los Angeles area, please contact one of our professional estate litigation Attorneys to help welcome your child into adulthood, by making the right choices for their future, now.
*This blog entry was not written by an Attorney and should not be constituted as professional legal advice.