Becoming educated is one of the most forward-thinking activities one can engage in and a key way that someone prepares for the future.  Finishing that education usually involves a graduation ceremony and celebration.  Graduation from high school or college is rightly celebrated as a major milestone in life, one that says ‘you are now an adult!’ with everything that implies. 

Entering adulthood is both exciting and frightening and is often the first time a person begins to think seriously about the trajectory they would like to pursue in life.  Spouse?  Children?  More education?  Career?  Home ownership?  Investments?  Retirement?

Milestones are a time for reflection by thoughtful people.  For each question or vision of the future that arises when one begins to think forward, there is a benefit to planning ahead.  And every step forward in life has a connection to estate planning along the way.  A good estate plan is important for each milestone, and not planning ahead can cause the graduate to trip over those milestones, rather than stepping over them confidently or passing them by respectfully and thoughtfully.

Marriage?  The legal institution of marriage is an ‘estate plan’ itself!  The newly married couple needs to reflect on the assets and the debts both spouses bring to the relationship, and sort out how to support each other and their family with a good estate plan built with wills, powers of attorney, and often a living Trust.

Children?  Thoughtful parents will immediately recognize the need to empower trusted family members or friends to have authority to raise children (and manage a child’s inheritance) in case of an emergency, using guardianship nominations and wills or living Trusts.

Home ownership?  When you are ready to invest in a home, it becomes virtually essential to create a living Trust as part of an estate plan to protect your investment.

Career and other investments?  Thoughtful plans consider how retirement assets from a career and investments can be safely and efficiently passed to surviving spouses and children.

Retirement?  Do graduates even think this far ahead?  The ‘golden years’ and your legacy need to be supported by a carefully crafted estate plan.

My firm, the Law Offices of Mark E. Lewis & Associates, has been helping our clients get over, around and through both obstacles and milestones for over three decades.  It would be our honor to assist you and any graduate to stop and think and plan at each milestone along the way!