As parents, watching your children grow up and prepare for college is both exciting and bittersweet. It’s a time of great change, not just for your children but also for you as parents. One aspect of this change that often goes unnoticed until it’s too late is the legal shift that occurs when your children turn 18.
When a child turns 18, they are legally considered adults, which means parents no longer have automatic authority over their child’s healthcare or financial decisions. This can be a shock to many parents, especially when they realize they can no longer call a hospital to get information or make medical decisions for their child. The same goes for banking – after 18, parents are often left in the dark unless they are on the account.
To address these challenges, we offer a plan for young adults. This comprehensive plan includes several key documents:
- Health Care Power of Attorney (POA): This document allows parents to make medical decisions on behalf of their child if they are unable to do so themselves. It ensures that parents can still advocate for their child’s health and well-being, even after they turn 18.
- HIPAA Authorization: This authorization allows parents to access their child’s medical information and communicate with healthcare providers. It’s crucial to stay informed about your child’s health, especially in emergencies.
- Living Will (optional): While not always necessary, a living will can provide guidance on the type of medical care your child wishes to receive if they are unable to communicate their preferences. It can offer peace of mind to both parents and children alike.
- Durable Power of Attorney (DPOA): A DPOA grants parents the authority to manage their child’s financial affairs, such as accessing bank accounts or handling financial transactions. This is essential for parents who want to stay involved in their child’s financial life after they turn 18.
By putting these documents in place, parents can feel confident that they can step in and make important decisions for their child if and when necessary. It’s especially meaningful for parents whose children are leaving home for college, as it provides a sense of security during a time of substantial change.
Not only does this plan help parents, but it also sets their children off on the right path to adulthood. It teaches them the importance of planning for the future and ensures that they are prepared for whatever life may bring.
If you have a child who has just graduated and is ready to take the next step in their young adult life, or if you know someone who does, consider discussing this plan with them. It’s a simple yet powerful way to protect your family and ensure a smooth transition into this new
chapter of life.
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