Graduation is an important and celebratory time in life, but what happens to your finances after the cap is thrown? Through this step of change and maturity, a young adult’s independence can pose many questions for their parents.
To help you navigate your decisions, we’re sharing a checklist that highlights the steps to take as your child becomes independent. This will guide you through questions such as:
- What do I need to prepare financially if my child moves to college?
- Do I need to review whether I should claim my child as a dependent on my tax return?
- Are my children old enough to take a more important role within my estate documents?
- Do I need to revisit my financial goals in light of my children leaving the house?
Our goal is to help you feel more prepared as you plan for these next steps. If you have questions as you review the checklist, or want to talk regarding your specific situation, we’re here to help.
Tobias Financial Advisors is registered as an investment advisor with the SEC. The firm only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. SEC registration does not constitute an endorsement of the firm by the Commission, nor does it indicate that the advisor has attained a particular level of skill or ability. This is a publication of Tobias Financial Advisors. The information presented is believed to be factual and up to date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. It is for information and planning purposes only.
Professional advisors should be consulted before implementing any of the options presented. Information contained in this publication is not an offer to buy or sell or a solicitation of any offer to buy or sell the securities mentioned herein. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. This is a representation of a general case scenario, however individual client timeline and experience may vary due to one’s unique circumstances.