The last thing on the minds of young adults heading off to college is drafting a health care proxy and power of attorney. Once they emerge freshly educated four years later, visions of wills and trusts are also unlikely to be on their radar. After all, who thinks about ticking off items on an estate planning checklist while they're still in the throes of figuring out how they're going to pay off student loans?
Not many people do, but there are a few bare-bones estate planning basics that even the college freshman could benefit from and that are nearly necessities for singles in their 20s and 30s.