Kennelly Business Law

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Estate planning and probate considerations for college students

Young people are typically not concerned with things such as their long-term health or what will happen if they pass unexpectedly. These are things that many are uncomfortable to think about, but in reality, every North Dakota adult would benefit from giving thought to certain estate planning and probate matters. Thinking about the future is important, even for a college student.

College students are not invincible, and the future is unpredictable. After reaching the age of majority, each college student -- in fact, any adult -- would benefit from drafting a will and possibly other estate planning documents. While someone who is college age may not have many valuable assets or a lot of money, each person should have a say over what happens to his or her property.

In addition to a will, it's also smart to consider advance medical directives and living wills. These documents outline what types of health care is wanted in case of incapacitation, and a person can also be designated to make certain types of medical decisions on the individual's behalf, something that parents will not otherwise have the right to do once adulthood arrives. These are simple ways to have control over personal and sensitive decisions, as well as obtain peace of mind for the future.

Estate planning and probate is probably not a priority for many North Dakota college students, but it should be. It is always prudent to have protections and plans in place in case of a contingency. Planning for the future can be overwhelming, which is why it may be helpful to consider speaking with an experienced legal ally regarding potential options and needs.

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