‘Tis the season for graduations and weddings; oh my! We are welcoming our high school seniors, college graduates and newlyweds into a new and exciting season of their lives. This next chapter comes with more independence and new responsibilities for all. While we are celebrating, it is also a great time to equip our loved ones with the tools necessary to protect themselves in case a crisis should arise.

While it may be hard to picture your new graduate or newlyweds needing an estate plan; after all isn’t estate planning for mature adults with major assets? Not exactly. Anybody at any time, at any age and stage in life, can experience a health crisis or be unavailable for a nonmedical reason and need somebody to advocate for them and act on their behalf.

When you are a child, your parent or legal guardian has the authority act or speak for you. However, when you become an adult, all bets are off. If you haven’t appointed somebody in advance to make medical or financial decisions on your behalf through the use of powers of attorneys, your family may face an uphill battle in obtaining the legal authority to act in your best interest.

With this in mind, it is always best to encourage your young adults to obtain the appropriate estate planning documents that coincide with their age and stage in life. For some this may include having a Power of Attorney for Financial Matters, Power of Attorney for Health Care and Medical Directives and HIPAA Authorization prepared. While others may need to add at minimum a Will and/or beneficiaries to their financial and investment accounts. And if you don’t have a plan in place yourself, why not make it a family affair and get it done together.