I have three children ranging in ages from 16 to 24 years old. In other words, two of my kids are legal adults! Whoa! How does that impact our daily lives and our financial plan?
The relationship between parent and child is of fundamental importance to U.S. society, because it preserves the safety and provides for the nurture of dependent individuals. The age of majority in Tennessee and most states, which transforms a child legally into an adult, is the age of 18 years. For example, you must be 18 to vote, enter into legal contacts, or purchase a lottery ticket. For parents, the transition to legal adult children alters access to medical and academic information, and impacts your family’s liability planning.
We invite you to listen and watch to a webinar – “Father (and Mother) Knows Best: — as I interview Knoxville attorney Jerry Martin about this important element of your personal financial plan.
Paul K. Fain, III
President, Asset Planning Corporation