Young adults in New York may want to consider estate planning

Many young people often have the notion that they can take risks and nothing seriously wrong will befall them. Of course, a serious accident could affect anyone of any age, and because of this potential, estate planning can be useful to any adult, even young ones. Those New York residents heading off to college or away from home for the first time may not have anticipated creating such a plan, but it may be wise.

In particular, young adults are often used to their parents making decisions on their behalves when it comes to health-related issues. However, parents no longer have that ability after their children reach the age of majority unless they are specifically designated in legal documents. Because of this reason, it makes sense for young adults to appoint a health care power of attorney agent who can act for them in the event of incapacitation.

Additionally, advanced health care directives can allow individuals to detail how they want to be cared for should they become incapacitated. It may seem overwhelming for a young person to have to consider such possible events, but it could prevent complications later on. Without these documents, a parent may have to go through the legal process of seeking guardianship over the adult child in order to make necessary decisions if the young adult no longer has the ability.

It is an unfortunate reality that an incapacitating event could affect anyone of any age, even the young. While it may seem difficult to think about, having estate planning documents that address health care situations can be immensely useful in the event that they are needed. Additionally, estate plans can be updated periodically, so even if a young New York resident makes decisions now, changes to the plan can be made when needed.

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