It is always a good idea to plan ahead for not only your client, but also your client’s children. When a client’s child turns 18 they should have a will, healthcare power of attorney, and property power of attorney. It makes good business sense for an estate planner to build a working relationship with not only his or her client but also the client’s children since they will be inheriting many of the assets that you helped make plans for. It is true that 18 year old individuals do not often have a lot of property or assets, but it is still important to plan for unexpected medical emergencies by having a will and naming a person who would have power of attorney.
See David H. Lenok, What Documents Do Your Clients 18-Year-Old-Children Need?, Trusts & Estates, May 26, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
