A New Chapter—And a Smart Beginning
As graduates toss their caps in celebration, they step into a new phase of adulthood. While the focus may be on careers, independence, or future goals, there’s another key step that often gets overlooked: estate planning. Even at a young age, creating a basic estate plan is a smart way to prepare for the unexpected and take control of important life decisions.
Healthcare Proxies and HIPAA Authorizations: Who Makes Decisions When You Can’t?
A healthcare proxy allows someone you trust to make medical decisions for you if you’re unable to speak for yourself. For young adults, this might be a parent, sibling, or close friend. Without this document, medical providers may be limited in who they consult.
Alongside a healthcare proxy, a HIPAA authorization gives doctors permission to share your medical information with selected individuals. This ensures your trusted decision-maker has full access to the information needed to act on your behalf.
Power of Attorney: Financial Safety Net
A Power of Attorney (POA) gives someone the legal right to handle your financial affairs if you’re ever unable to do so. This includes managing bank accounts, paying bills, signing documents, or overseeing student loan payments. Having a POA in place prevents delays or confusion during emergencies and ensures your finances stay on track.
Why Start Now?
Many young adults think estate planning is for older people. But emergencies can happen at any age. Without key legal documents in place, decisions about your care or money could end up in court—or with someone who doesn’t fully understand your wishes.
Starting early gives you peace of mind and spares your family from having to guess what you’d want in a crisis. It’s a small step with big benefits.
More Than Emergencies: Long-Term Confidence
Estate planning isn’t just for worst-case scenarios. It also helps you:
- Understand your financial responsibilities
- Make decisions about digital assets and online accounts
- Organize who gets your personal items, if needed
- Plan guardianship for pets
It’s about taking charge—not just reacting to a situation, but shaping it ahead of time.
Don’t Forget About Pets and Personal Belongings
If you have a pet, estate planning lets you name a caregiver. This ensures your furry friend is looked after if you can’t be there. You can also document your wishes for personal items—things with sentimental value that you’d want to go to specific people.
How to Get Started
The best way to begin is by speaking with an estate planning attorney. They’ll help you understand your options and create documents tailored to your life and values.
If you’re not ready for a full legal consultation, you can start by exploring reliable online resources and tools to learn the basics. But even a simple conversation with family about your preferences is a valuable step.
Graduation is more than just a celebration—it’s a turning point. Estate planning shows maturity, foresight, and responsibility. For young adults, it’s not about fearing the future. It’s about owning it.
Take the first step now, and give yourself and your loved ones the peace of mind that comes with preparation. It’s a gift that lasts far beyond your graduation day.
For any questions regarding your other estate planning needs, we are here to help. Contact us today to learn more about how we can work with you.
For more information regarding various estate planning and elder law topics, view our resources page, where you will be able to find previous blog articles, newsletters and our informative webinar series.
