As your child turns 18 and prepares to embark on their college journey, estate planning is probably the last thing on your mind. However, once your child becomes a legal adult, you no longer have automatic rights to make medical or financial decisions on their behalf. Proper estate planning ensures that you can assist them in case of an emergency and protect their future.

I.   Key Benefits of Estate Planning for College Students

Medical Decision-Making Authority

Once your child turns 18, you no longer have the legal authority to make medical decisions for them. A Patient Advocate Designation allows your child to designate you or another trusted individual to make medical decisions if they become incapacitated. Without proper legal documents, medical providers may refuse to provide you with access to critical information about your child. However, a HIPAA Authorization ensures that medical providers can share important health information with you. College life can bring unexpected challenges, from illness to accidents. With proper legal documents in place, you can act quickly and effectively on your child’s behalf during emergencies.

Financial Protection and Management

A Durable Power of Attorney enables you to manage your child’s finances if they are unable to do so or if they have not yet acquired the financial literacy skills to manage their own affairs. This can be crucial for handling tuition payments, bank accounts, or any unexpected financial issues while they are away at school. Proper estate planning allows for seamless management of financial matters for conveniences sake and in case of an emergency.

II.   Essential Estate Planning Documents for College Students

To ensure full protection, consider having your child sign the following documents before they leave for college:

• Patient Advocate Designation
• HIPAA Authorization
• Durable Power of Attorney
• Basic Will (if necessary, depending on assets)

III.   Take Action Before They Leave for College

Estate planning is not just for the elderly. It is a crucial step for young adults, too. Morello Law Group prioritizes the well-being of our clients, and ensuring your children are cared for is an essential part of your peace of mind and overall well-being. By preparing these essential documents, you can ensure that your child is legally protected, and you have the ability to help them if needed.

Morello Law Group specializes in estate planning for families, and we are here to help you navigate this important transition.

Contact us today to schedule a free consultation and protect your child’s future. 

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Written by:
Kyle M. Bourlier, Esq.