Add Estate Planning to Back-To-School Planning

Across the state of Michigan, kids and parents are preparing to head back to school. Families are falling back into the routines they put on hold while trying to soak up what our Michigan summer has left to offer. For parents, though, back-to-school season is also a smart time to think about estate planning.

If you’ve been thinking about estate planning, now is an ideal time to start. Estate planning for parents is really about protecting your children’s future. The start of a new school year brings a focus on the future and a natural moment for reflection. As you prepare your children for a productive school year today, a proper estate plan is paramount to protecting their tomorrow.

Estate Planning for Parents: The Guardianship Document

For parents, one of the most important elements of the estate planning process is a guardianship document. Schools already require you to list people to contact in an emergency. A guardianship document goes further. Integrated into your will, it names who you would want to care for your kids in the event of the unexpected. Be sure to keep this document updated. Otherwise, parents risk leaving that vital decision to the court system.

College Students and Power of Attorney

Their schooling flies by, and before you know it, your kids are off to college. Here’s a detail many parents miss: once your child turns 18, you no longer have automatic authority over their medical or financial affairs, thanks to privacy laws like FERPA and HIPAA. An estate plan can address this with a power of attorney, which grants a parent the legal power to act on behalf of their child—even after the child turns 18. This provides a range of protections, so you can keep supporting your college student and make critical decisions on their behalf. It can be as simple as gaining access to their dorm in an emergency.

At Shea Law, the estate planning process is rooted in preserving and protecting your legacy while bringing peace of mind to families. Protect your student this fall and beyond through sound estate planning principles that lay the foundation for a successful school year ahead.