College students are full of excitement about the future, and typically this does not include considering what future financial and legal needs they may have long-term. Young people are not likely to see the need to think about estate planning, but this could be a crucial step for many California young adults. Thinking ahead can give them peace of mind, as well as provide certainty to family members in case of a contingency.
If an adult is sick or injured to the point where he or she cannot make decisions, it often falls on the family members to make these choices. Sometimes there are disputes regarding who gets to choose and what choices should be made. With a will, advance medical directive and other documents, a college student can decide for him or herself what will happen with medical decisions and personal property.
It is an erroneous assumption that only people who are old, sick or wealthy need estate plans. Life is unpredictable, and everyone deserves the chance to have a say in what happens to their stuff or their body in case of an unexpected situation. This applies to college students who have reached the age of majority and who may be living away from home for the first time.
A California college student may benefit from speaking with an experienced estate planning attorney about a will and/or other documents. An assessment of a student’s individual situation, including finances and personal objectives, can determine what steps are necessary. Unforeseen circumstances can happen to anyone, and it’s always prudent to think ahead and be prepared.