Does your High School Graduate have a Power of Attorney?
Every parent that has gone through the celebration of having a child graduate from high school understands how overwhelming the list of things that need to be done can be.
But did you know that estate planning should also be on that list? There are very important documents that every 18-year-old should have in place whether going off to college, staying home and going to a local college or beginning a job or career.
Durable Power of Attorney
Your adult child needs to have a Durable Power of Attorney for legal and/or financial decisions. This is very important for many reasons, such as (s)he is out of town and needs you to deposit a check or pay bills from an account, including online accounts. A Durable Power of Attorney can also be helpful for parents of an adult child who is unavailable and an important document needs to be signed.
Medical Power of Attorney and HIPPA Release
One of the hardest things I experienced after my son graduated, was at the hospital when he had been injured. Not only was my 18-year-old son now able to vote, but he also was not required to share his medical treatment decisions with me! I was no longer permitted to act on his behalf and communicate with his doctor(s) regarding the treatment that he should receive, until HE made the decision to include me. What would have happened if he would not have been unable to communicate with the doctor?
Your high school graduate needs to have a Medical Power or Attorney in place in the event that (s)he has a medical emergency whether away at college or living at home, so that first responders and medical staff can talk to you about the situation. There is nothing scarier than a parent getting a call saying their child is in the hospital, then hearing that the hospital cannot release information to you unless your child has a Medical Power of Attorney. If your child has only one legal document prepared when they turn 18, make sure it is a Medical Power of Attorney!
A HIPAA Release is an important document that typically accompanies a Medical Power of Attorney. This document allows parents to receive information from your child’s physicians about treatments and medications prescribed. Knowing this information helps you as the parent make the necessary medical decisions for your child if he or she is incapacitated.
Of course, there are other documents that your adult child may want to consider having drawn up as well. Such as a Simple Will or an Advanced Directive.
If your adult child does not have any of these important documents in place, it is an easy enough process to get them completed. I have a couple of local estate planning attorneys listed that you can call. Check out our Referral List.