June is the month where we honor fathers and celebrate graduations. This is a good month to think about things Dads can do for their families and families can do for Dads. And it is a good time for grads to acknowledge adult responsibilities.
Dads take pride in taking care of their families. One of the most important things a Dad can do for his family is to have his estate planning in place.
I recently had a case where a Dad passed away without a will, leaving a minor child as the only heir to his house. It is now necessary to create a guardianship of the estate for his child and to have determination of heirship and court created administration with a bond.
All this could have been prevented with a little estate planning.
For our Grads a little estate planning can be helpful too.
Most high school graduates have turned 18. Our Grad is now legally an adult for most purposes.
Estate planning isn’t just about transferring property on death. There are several things that any 18 year old needs even if he or she doesn’t own anything.
Once you are legally an adult your parents aren’t in control of matters concerning medical care. An appointment of an agent to make health care decisions if you can’t make your own can be important. Likewise, a release of medical information can be helpful.
Does our Grad have a motor vehicle or bank account in his name? Does he use a motor vehicle that is his but his name is not on the title?
For both Dads and Grads, a consultation with an estate planning attorney can prevent a complicated estate administration in the event of death and provide for the appointment of agents for health care.
Attorney Rob Morris is an attorney at Hammerle Finley Law Firm, a boutique law firm offering services in estate planning, probate, guardianship, business law, litigation, and real estate. Contact him at (972) 436-9300. This article does not constitute as legal advice.
(Sponsored content)
