CONGRATULATIONS YOUR CHILD IS ABOUT TO GRADUATE! You may still be the parent and paying bills, but your 18-year-old is now legally an adult. You’ve spent 18 years preparing financially and emotionally for this time. You’ve equipped your child with all the tools to help them succeed.
Previously, as their parent, you could easily access medical, financial and educational information regarding your child and act on their behalf — but now that they are 18, your ability to do so now is severely restricted.
In addition to all of the comforts of home, send them off with the promise that you will still be there when they need it most. The following key documents will allow you to get information and intervene on your child’s behalf while away at school:
- DURABLE POWER OF ATTORNEY: gives you the ability to act on behalf of your child as their agent, allowing you to make financial decisions, including managing bank accounts, paying bills, signing tax returns, signing a lease and conducting other similar financial and legal transactions.
- HEALTHCARE POWER OF ATTORNEY: gives you the ability to view your child’s medical records and make informed medical decisions as a “medical agent.” Without this document, healthcare decisions regarding your child’s treatment are solely in the hands of healthcare providers. This document also includes a “living will,” which lets people state their wishes for end-of-life medical care, in case they become unable to communicate their decisions.
Does my college student need a will?
The primary function of a will is to dispose of your property when you pass away. Because most college students have minimal assets, designating beneficiaries on their bank accounts may be sufficient. However, your college-aged child may have tangible personal property (such as jewelry, coin collections or even pets.) that they want to leave to specific people, like parents, siblings, friends, cousins, etc.
Does my student need a HIPPA form?
Parents should have their adult child pre-sign a HIPAA form at their Doctor’s Office to ensure they can immediately communicate with physicians and access important medical records.
WE’RE HERE TO HELP YOU! Contact the attorneys at Duffy North to make an appointment to prepare these important documents. These documents can be completed very quickly! A quick appointment in our office with one of our attorneys and our notary is all it takes.