When the last child heads off to college, it marks a major life transition. For many parents, it’s a moment of mixed emotions—pride, grief, joy, and uncertainty all rolled into one. But it’s also a critical time to pause and reflect: Is our family legally and financially prepared for this new chapter?

ESTATE planning is not just about what happens after we’re gone—it’s about protecting the people we love and preparing for life’s “what-ifs.” And in this season, both empty nesters and their young adult children have important steps to take.

1. Empty Nesters: It’s Time for a Check-Up

If it’s been a few years since you reviewed your ESTATE plan, now is the time. Your children are now adults, which means your existing documents—especially those involving guardianship—may need to be updated.

You’ll want to:

• Review or update your will or trust

• Revisit beneficiary designations on retirement accounts and life insurance

• Ensure you’ve named someone you trust for financial and health care powers of attorney

• You may want to include your now adult children as fiduciaries.

• Make sure your kids know where important documents are kept and consider a family conversation about your plans and wishes.

2. College Students Need Protection Too

Most parents are surprised to learn that once a child turns 18, you no longer have automatic access to their medical or financial information. That means if your son or daughter is hospitalized at school, you might not be able to get updates or make decisions on their behalf without proper documents in place.

At a minimum, your college-aged child should have:

• A Health Care Power of Attorney – so you can make medical decisions if they’re unable to.

• A HIPAA Release – to allow doctors to share important medical information with you.

• A Financial Power of Attorney – so you can assist with bank accounts, tuition, or other financial matters if needed.

These simple documents can prevent confusion or crisis and ensure you can step in to help if needed. It's also a great teaching moment and marks a valuable milestone in your child’s journey toward independence and responsibility.

3. Building a Family Legacy of Planning Well

This season of life is a great time for meaningful conversations about finances, responsibility, and the future. It’s not just about creating documents—it’s about protecting your family, clarifying your wishes, and empowering the next generation to do the same.

When parents and young adults each take steps to plan wisely, it sets a strong example and lays the foundation for smart decisions in the years to come.

Whether you're entering the empty nest years or sending a child off to college for the first time, this new season deserves a fresh look at your ESTATE planning. Taking the time now can provide clarity, reduce stress, and ensure your family is ready for whatever comes next.