Not The End But A New Beginning by matthewcrider

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In the next two months, those words will ring out in high school graduation ceremonies all across the country. And if you have a high school senior in your home, then chances are that things are about to change dramatically, both for you and your high school senior.

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									                            Not The End But A New Beginning

                                      By Matthew Crider, JD
                                 Family Wealth Protection Attorney

      “Not the end, but a new beginning.”

      In the next two months, those words will ring out in high school graduation ceremonies
      all across the country. And if you have a high school senior in your home, then chances
      are that things are about to change dramatically, both for you and your high school
      senior.

      There are a few things that you need to take care of before sending your senior off to
      college. In essence, you need to really prepare your student for college. While your
      college-bound student should be emotional and mentally prepared for the challenge of
      higher education, there is no way to know how they are going to adapt to a new
      environment, especially if your student is moving far away for school.

      Set Them Up for Success

      The most important thing you can do is to be involved in the process of enrolling. That
      means going to orientation with your son or daughter. It means figuring out which
      courses are required in the first year, and it means helping your student get registered.
      You don’t have to do it for them, but be there to support the process and help problem-
      solve.

      It’s also smart to take a self-guided campus tour. Have your son or daughter lead the
      way, just so they feel comfortable navigating in unfamiliar surroundings.

      If you haven’t already done so, set your son or daughter up with his or her own bank
      account. Teach them to account for expenses in a checkbook ledger, and teach them to
      develop and actually use a budget.

      Depending on maturity, this might also be a good time to consider a “starter” credit card
      with a very low limit. Certain banks, many of which will likely be marketing to students
      on campus, will offer low-limit cards. Such cards should be used to establish a credit
      file, not to indulge in rampant consumerism. Judge your student’s maturity level and
      ability to grasp that concept and make a good decision.



      Transferring Other Responsibility

      College is a good time to teach your student about taking responsibility for things other
      than just money and registering for classes. It’s a good opportunity for you to have a
      serious discussion about the responsibility that accompanies adulthood.




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                             Not The End But A New Beginning


      Things you can discuss include health care proxies and living wills. Of course you’ll
      want to be designated as a decision-maker, but by having these conversations, you can
      begin to impart a sense of what it means to function in society as a responsible adult
      and what it means to take responsibility for oneself. There is nothing wrong with
      creating good legal documents for your college-bound student. In fact, it’s a good idea
      and it can give you a sense of security in knowing that certain details have been
      handled.

      It’s really never too early to have these conversations. Unfortunately, it’s often too late.
      While it might seem morbid to have such discussions when a “New Beginning” is at
      hand, the truth is that these issues need to be addressed. The very beginning is really
      the best time to plan for any possible eventualities.



      We’ll Help You Launch

      We can craft custom documents for you and for your college-bound student. To that
      end, we want to have a very serious conversation with you about your estate and legacy
      planning. Call our office today to schedule a Family Wealth Planning Session™. Use
      this opportunity to learn for yourself so that you can be a good role model for your future
      college student.




      About Matthew Crider, J.D.

      Matthew Crider formed Crider Law PC in 1999 so he could help
      individuals and business owners by providing creative solutions and
      be their trusted advisor and legal counselor. He serves his clients
      by listening closely to their goals, dreams and concerns and
      working with them to develop superior and comprehensive estate
      and asset protection plans. His estate planning practice focuses on
      preserving and growing wealth by providing comprehensive, highly
      personalized estate planning counsel to couples, families,
      individuals and businesses.




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