Sending your child off to college is both an exciting and stressful life event for all parents. There are so many things to take care of and conversations to have to prepare your child for that big transition into adulthood and higher education. While we may get our focus tied up on financial aid, finding housing, and preparing them for this new adventure, it can be easy to forget about some of the other extremely important steps that should be taken when your child goes to college. One essential step that should be taken is creating their estate plan.
It may seem early and kind of premature, but if your child is 18 and headed to college, an estate plan can help to protect them in a lot of different ways. While a Will may not be as vital for a young person, accidents can happen everyday, there are some other vital documents that your child should have arranged prior to college.
These documents are their…
In the event of an emergency situation in which your child is unable to make decisions for themselves, like a car accident, these documents save precious time, and ensure your child’s wishes are followed. .
By helping your child create an estate plan before they leave for college, you can prepare them for the next step in their life, and for their whole lives. While we hope that they never have to utilize their estate plan during college, it can make all the difference if there was ever an emergency.
According to a 2019 study by CDC.gov, accidents in vehicles are highest amongst people aged 16-19, with over 250,000 teens having been treated for accidents in 2019 alone. This means that early in college, students are at a higher risk of being in an accident, putting your child at higher risk during these beginning years when they may be far from home. In the event that they were in an accident, a proper estate plan would help protect your child and save you and your family time, money, and stress during these difficult times. We know that protecting your child is a priority, which is why Gentreo makes creating and updating your plan easy and affordable for everyone.
Steps to Take to Protect Your College-Aged Child
Your child going to college is a huge life event for the both of you, and with it comes many life changes. At Gentreo, we know that protecting your child is the number one priority, and want to make sure that you have all the resources needed to ensure that you are both prepared for anything. Gentreo makes it easy and affordable to create, update, and store your estate documentation. With the Gentreo Digital Family Vault, everyone knows where to turn in the event of an emergency and instant access is always just a few clicks away. Sign up today to give your child the protection they deserve.