Back-to-school is a busy time for parents, especially those who are sending their kids to college for the first time. As an estate planning attorney, you know that a person’s 18th birthday has even more implications than moving into a dorm room and registering for college classes. While this can be an emotional, life-changing time for both clients and their children, now is the ideal time for you to reach out to clients, leads, and referral sources to help families adapt to the new legal reality at the milestone of adulthood. Read on to learn more about how estate planning for young adults can give the entire family peace of mind.

One-size-fits-all estate plans are impracticable due to the differences and varying complexities in each person’s estate. It is imperative to tailor an estate plan to meet each client’s needs and goals, so the drafting attorney must understand the character of the assets in the client’s estate and the planning options best suited for each client. Because high net worth clients are often very protective of their assets, planning objectives and recommendations for clients with large estates will almost always differ and be more complex than those for other clients. When estate planning attorneys understand the different planning techniques appropriate for larger estates, including the advantages and disadvantages of each, they can help high net worth clients create a plan that not only facilitates a smooth transition of assets to beneficiaries after death but also helps to sustain the longevity of assets.   

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