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The passing of Labor Day is certainly a milestone in our calendar; but it may mean different things to different people. For kids of all ages, it is the beginning of a new school year. Whether it is first grade or the first year of college, it is a time of new and indelible experiences.
For college students, there may be many demands on their time and energy, but one thing that many college students may overlook is the need to have an estate plan. This is certainly understandable, since most college kids can care less about retirement or distributing their possessions should something happen to them.
Nevertheless, you don’t need to be a middle aged property owner in order to have a simple estate plan. Instead, you just need property (not necessarily a home or car) that you care and people that you trust in order to have a basic estate plan.
At this stage of life, a college student could have a holographic will that can consist of a basic list of instructions for how to account for and distribute property. For those college students who are in committed relationships, having a power of attorney so that your wishes can be met and proper decisions can be made.
Additionally, some college students may already have children, so having guardians named if something happens can be very helpful. If you have questions about how to put together a simple estate plan, an experienced attorney can help.
The preceding is not legal advice.