Georgia Parents of Graduating Seniors:
Did you know…
Now that your graduating senior is “legally” an adult, you can no longer make important medical or financial decisions on his or her behalf?
UNLESS you have these 3 things in place…… (see below to discover how EASY it is to legally intervene if your child is injured or otherwise unable to speak on his or her behalf!)
Your graduating senior may still be your baby, but in the eyes of the law he or she is now an ADULT!
That means you can no longer make important medical or financial decisions for your child without their permission.
But let’s face it….your job of being a PARENT doesn’t stop just because your child turns 18. If there’s a medical emergency or your child asks for financial help, you NEED the ability to cut through the legal red tape and get involved.
FACT: Doctors, hospitals or financial institutions will NOT bend the rules on this! It’s against privacy laws. You must have 3 KEY DOCUMENTS in place to make important medical or financial decisions on your child’s behalf (just imagine the nightmare of your child getting hurt hundreds of miles away at school and the hospital refuses to give you so much as a status update!).
I call these 3 key documents the Parent Sanity Protection Kit, as they give you the legal permission you need to HELP your child and avoid more gray at the same time!
Advance Health Care Directive
Financial Power of Attorney
To ensure your child is protected before the summer or college starts, you can now receive this critical Parent Sanity Protection Kit just $350 when you call 770.425.6060 and schedule your appointment by June 30th.
P.S. – Graduation Gift for YOU, too, Moms and dads: Mention this blog post and receive a FREE Georgia Family Treasures Planning Session (normally $750) to go over YOUR will, trust or other legal documents! Having an “adult” child is a huge life-change for mom or dad too and your estate planning documents must be updated accordingly!
As a Marietta estate planning lawyer, I know how common it is for each generation to avoid planning for their deaths. Few people are eager to spend time thinking about their own mortality, including the parents that raised and cared for us. Unfortunately, not spending a little time with a Marietta GA estate planning attorney can end up costing more than just a little time.
Discussing estate planning with your parents can be tricky. Neither of you wants to think about the fact that they will one day pass away. Not only that, but you likely don’t want to look greedy or uncaring. That’s why you should approach the topic in a way that lets them know you have their best interests at heart. Here are two important things to keep in mind:
1. Estate Planning Protects your Parent’s Legacy
One of the most important things to remember when you’re discussing an estate is that it will be your parent’s legacy. It is not the only way they’ll be remembered, but it does give them the opportunity to have a say in what becomes of the assets they worked so hard to acquire. An experienced estate planning lawyer will be able to show them more options than they likely ever realized were possible.
2. Estate Planning Protects the Beneficiaries
Just because you’ve grown and gone out into the world doesn’t mean that your parents don’t still feel the need to “parent” you. Taking the proper steps to plan their estate means that they can lessen the burden on their children and grandchildren at what is sure to be a difficult time. Let your parents know that you want to follow through on their wishes, and by planning in advance, you can make sure that happens.
Acknowledging that our parents won’t always be here is a difficult thing to do, but it is a necessary part of preparing for the future. By introducing the topic in terms of protecting their legacies and their beneficiaries, it is possible to turn the conversation into one of empowerment. Once the subject has been brought out into the open, it’s best to take steps to speak with an experienced Marietta GA estate planning lawyer to make everything official.
Estate planning is incredibly important for all parents, as it allows them the opportunity to make very difficult choices. It provides the chance to determine who will raise your minor children if you can’t, what money will be set aside or used for their upbringing, and even what money will be used to support them as adults. Each of these choices can become even more difficult when the child has disabilities, especially if he or she is receiving some type of government assistance. This is where working with a Marietta special needs planning attorney comes into play.
A special needs planning attorney is familiar with the most common choices faced by parents of children with disabilities and can offer advice and suggestions on how to plan for that child’s care. They also understand the ramifications of inheritance when it comes to eligibility for government assistance. Here in metro Atlanta, as in other places across the country, planning tools such as a special needs trust or supplemental needs trust must be set up a very particular way in order to meet government standards and allow for the continuation of other benefits.
However, special needs planning is not just about maintaining government support. It also protects the disabled individual from lawsuits and other debts, as the trust cannot be seized in order to pay these. This protects the trust and the individual who relies upon it for his or her ongoing care.
A Marietta special needs planning attorney will be familiar with how local, state, and federal laws interact in order for parents to put together a plan that best protects their child. It is highly recommended that you seek out a lawyer who specializes in special needs trust planning. He or she will help set up your child’s trust, as well as explain all the details such as how a trustee will manage the assets for the beneficiary.
If you are ready to get started in creating a plan that makes sure your disabled child stays physically and financially protected if something happens to you, I invite you to give our office a call at 770-425-6060 and schedule a Georgia Family Treasures Planning Session. These sessions are normally $600, but we’ve made space for 8 area families to come in this month absolutely free of charge. Simply call 770-425-6060 to reserve your free planning session today.