You have likely been preparing for months for your new college student to head off to school next year. It is exhilarating, and your heart may be bursting at the seams. You are probably prouder than words can express but also afraid. How can you ensure your child is safe at their new home away from home? A new matching sheet set for their dorm room does not seem like enough, does it? So, what else can you do? While this is probably not on your to-do list, bringing your child to a local estate planning attorney can make all the difference.
Although your child is getting ready to graduate from high school and reach adulthood, they may still want you by their side if they get sick. However, medical care decisions are legally theirs alone after they turn 18. If they were to become unconscious after a serious accident, you could not authorize medical care or make decisions about a treatment plan without first going to court. The court process would delay your ability to advocate for your child, and your appointment as guardian would ultimately be up to the judge.
We do not want to worry you unnecessarily, but the unfortunate reality is that a significant number of people between the ages of 18 and 25 wind up in hospitals every year, and their parents can often be kept out of the loop when it comes to making critical decisions.
Therefore, most experienced estate planning practitioners recommend that everyone over the age of 18 have a basic estate plan that includes a Will, a Financial Power of Attorney, and Medical Directives that allow someone they trust to act on their behalf if they are unable to advocate for themselves or make medical decisions. While it is important that your child have the proper tools to ensure that their wishes are known and that trusted people will act on their behalf, they can choose whomever they want to fill these roles. These important roles do not have to be given to you.
Here are some things to take care of before you drop your child off at college:
HIPAA Authorization. The Health Insurance Portability and Accountability Act (HIPAA) seeks to protect patients’ privacy. Consider having your child sign an authorization form so that doctors can talk to you about your child’s condition, care, and treatment.
Durable Financial Power of Attorney. This legal document allows you to take care of your child’s checking or savings accounts, bills, and other finances if your child is unable to do so for themselves, whether due to illness or location (for example, if the school is on the other side of the country or abroad).
Advance Health Care Directive - Medical Power of Attorney. Like the financial power of attorney, this document allows you to make medical decisions for your child if your child is unable to do so. This document also allows your child to state their wishes regarding end-of-life care. Although we hope this tool is unnecessary, it provides the medical decision-maker with additional information to help them make the right decisions on your child’s behalf.
We have been helping families attain peace of mind for their children years. Contact us today to protect your new college student and your family.
[1] Malaika Nicholas, 7 Features You Need in a Team Password Manager, Dashlane, (Feb. 5, 2024), https://www.dashlane.com/blog/7-features-you-need-in-a-team-password-manager.
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