Category: Insights

As summer winds down and your child prepares for their first semester of college, your checklist likely includes textbooks, dorm essentials, and maybe a few emotional goodbyes. One more critical item that often gets overlooked—estate planning for young adults.  It may sound premature to think about estate planning for someone just stepping into adulthood. But once a child turns 18, they are legally considered an adult in the eyes of the law. That means parents no longer have automatic authority to make medical decisions, access health records, manage bank accounts, or handle other important matters on their child’s behalf, even in an emergency. This is where Powers of Attorney come into play.

At a minimum, every young adult should have two foundational documents in place before heading off to college:

1. Healthcare Power of Attorney
This document allows your child to name someone they trust—usually a parent—to make medical decisions on their behalf if they are unable to do so themselves. It also allows you to speak with doctors and make decisions regarding your child’s care, which can be crucial if an accident or illness occurs while they’re away at school.

2. Financial Power of Attorney
This gives a trusted person the authority to handle financial matters such as paying bills, managing bank accounts, handling tuition or housing payments, or dealing with financial aid offices and insurance companies if your child is temporarily incapacitated.

In our Child Power of Attorney Package, we also include HIPAA Authorization forms.  This form allows an appointed person to access your medical records in the event of an emergency.

Why It Matters
Emergencies are never expected, but they do happen. Whether it’s a serious car accident, an unexpected illness, or even just dealing with administrative tasks while your child is studying abroad or in another state, these documents provide peace of mind and a clear path for you to step in and help, without additional legal hurdles.

Creating Powers of Attorney is a simple process that allows young adults to make decisions for themselves while still providing a safety net. It also gives your child an opportunity to learn more about managing their own affairs and thinking ahead about the responsibilities of adulthood.

Our goal is to make it easy for families to put these important protections in place. Whether your child is heading to a local college or across the country, we’re here to help you start this next chapter with confidence and legal peace of mind.

In the digital age, managing online accounts, passwords, and bill payment systems has become a fundamental part of daily life. However, many individuals overlook the importance of organizing and sharing this information in case of incapacity or death. Without access to login credentials, family members or legal representatives may struggle to manage or settle an estate, resulting in missed payments, frozen assets, or loss of important digital records. Planning ahead is not only a matter of convenience—it is a critical step in protecting one’s financial and personal legacy.

In the event of incapacity, access to usernames and passwords allows a trusted agent to maintain continuity of essential financial obligations such as mortgage payments, utilities, insurance premiums, and tax filings. If these tasks are neglected due to lack of access, penalties and service interruptions can occur, compounding the challenges faced by a family already dealing with emotional and logistical strain. Naming an agent under a durable power of attorney and providing them with secure access to digital credentials ensures timely management of ongoing responsibilities.

In the case of death, failure to organize online account access can significantly delay estate administration. Executors often need to access financial accounts, investment platforms, email, and digital subscription services to inventory assets, close accounts, and notify institutions. When login credentials are unknown or untraceable, it can lead to unnecessary delays or even permanent loss of digital property. Many platforms have strict privacy policies, and gaining access after death without prior planning can involve complicated legal proceedings.

To avoid these complications, individuals should create a secure, regularly updated list of online accounts, usernames, passwords, and recurring bills. This information should be stored in a secure location, such as a password manager or encrypted file, with access granted to a trusted person or fiduciary. Including digital asset instructions with your estate planning documents helps ensure that agents and executors can fulfill their roles efficiently. By proactively managing digital access, individuals provide their families with clarity, stability, and peace of mind during times of crisis.

Many North Carolina residents pass away every year having never developed an estate plan or even written a will. In North Carolina, if you pass away without a will, the state—not you or your loved ones —will determine how your assets are distributed. This can lead to unintended consequences, legal complications, and avoidable family disputes.

North Carolina’s Intestacy Laws
When someone dies without a will (known as dying “intestate”), North Carolina law dictates how their assets are distributed. The order of inheritance depends on your family makeup:

• Married with children: Your spouse will share your assets with your children.
• Married without children: Your spouse may have to split assets with your parents or other relatives.
• Single with children: Your children inherit everything, divided among them in equal shares.
• No spouse or children: Your parents, siblings, or other relatives will likely inherit your estate. If no relatives are found, your assets will escheat to the state.

What About Minor Children?
If you have children under the age of eighteen and no surviving spouse or other guardian of those children, dying without a will means the court will likely decide who raises them. Without clear instructions, family members often disagree, frequently leading to lengthy and costly legal battles that add stress.

The Probate Process Without a Will
Without a will, assets you own in your individual name will go through probate, an often time-consuming and expensive process. The court will appoint an administrator to handle your estate, and your family may face delays and legal fees that could have been avoided.

Take Control of Your Legacy
As the saying goes, if you don’t have a will, the state will write one for you. To avoid this fate, consider reaching out to our team to discuss your estate planning goals and fears.  We will be happy to work with you to prepare a plan today.