Legally speaking, what happens when a child becomes an adult?
If your child is heading off to college for the first time, the dynamic of your relationship is about to change. Not just literally but legally as well. When your child reaches the age of 18, you can no longer talk to their doctors. The same goes for financial institutions and with officials of the college or university that they’re attending. This can be overwhelming, especially if you’re still helping your child financially.
How can parents legally intervene in those situations?
By executing a HIPPA form, a medical provider can share information with a third party
designated by the patient. This can be helpful when, in the event of a medical emergency, you need information and your child is hospitalized several hours away. Advance Directives enable parents to make medical decisions in the event their child becomes incapacitated. Likewise, Financial Power of Attorney enables parents to act on behalf of their child in certain financial situations. And in some cases, a last will and testament could be applicable.
That sounds great, but how do parents get started on this path?
First of all, these are important conversations that parents and their children need to have
together, and there’s no reason to be afraid to have them. Determine what is best for your
situation, then contact a qualified estate law professional who can put your plan into action. The peace of mind is worth it.
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