When The Kids Spread Their Wings –
It’s A Good Time To Evaluate Your Home
As your children graduate high school, college, or start their own lives, you have new things to think about as an empty nester. And when it comes to the home, there may be some emotional ties to consider. Will children still need a room to come home to? Will they visit frequently, or maybe just a weekend or a holiday?
Maybe it’s time to give your home a fresh new feeling? Maybe it is time to downsize? Where will children or visitors stay? You may be thinking about your health, want less chores or yard work, or don’t want to traverse stairs. Allow time to reflect on changes. Discuss with your realtor the pros and cons, and find a solution that works for you as your children branch out on their own.
When The Kids Head Off To College –
Be Sure To Also Evaluate Important Legal Documents
There are other things to consider as you launch your teenagers, one of which is the reality that they still need us to help navigate the world, first jobs, college, and to stay safe. We may pay for them for a few more years. But at 18, they are considered adults, no longer under our guardianship.
Some simple documents are needed as our children turn 18. Power of Attorney (POA) for Healthcare: Off at college, there could be a car accident, party gone awry, or an ER visit. Things happen. We don’t automatically get our child’s information since they’re over 18. In a Healthcare POA, they assign that healthcare authority to you, so you can get information, make decisions, and help with medication or care.
POA for Finance and for Property, so you can still pay their bills, go to the bank or make a car payment for them.
Due to the educational act called FERPA, they will not release your child’s progress to you – it protects student’s educational privacy the way HIPAA laws protect healthcare privacy. For you to help your child through their educational program, they need to give that right to you.
Your estate planning attorney can prepare these inexpensive documents, as you help your children spread those wings.
Look for The Property Sisters monthly segment in Stroll Palos Park, or contact:
Bridget Gricus (708) 814-6253, bridgetgricus@gmail.com
Eileen Kerlin Walsh (708) 448-5169, Eileen@KerlinWalshLaw.com
