06.27.23

How to protect your child after they turn 18


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Congratulations, your child is now an adult! 

It's an exciting time in their lives. Many parents of an 18-year-old are unsure if they have prepared their child adequately for life as an adult. Also important is creating estate planning documents, because turning eighteen changes how the rest of the world, and how the law, now sees and treats your child. He or she is officially an adult! There are a minimum of three basic documents that every 18-year-old should get.

 

HIPPAA Waiver

The Health Insurance Portability and Accountability Act of 1996 (HIPAA) requires doctors and hospitals to withhold information from everyone but the patient, unless a HIPPAA waiver is on file. These waivers designate the individuals that can request and receive health information for your child.

 

Healthcare Power of Attorney

This document allows your child to name a person to make medical decisions or communicate his or her wishes in the event your child becomes unable to do so. Your child being incapacitated could be as serious as being in a coma or temporarily losing consciousness after an accident.

 

Durable Power of Attorney

This document will be required if your child goes away for college and wants you to open a bank account, manage his taxes, or do anything financial in his name. It also includes a durable clause that allows a power of attorney to maintain his or her ability if your child becomes incapacitated.  

The role of a parent never ends. These executed documents will be a safety net for your kids should they ever need you to step in while they are trying to figure out life as an adult. Find more information here.