College Kids and Grandchildren
As your child heads off to college (or as you watch your grandchild head off ) you feel a sense of relief and, of course, sadness as your baby moves to the next stage of life.
You’ve purchased the dorm room supplies — a small refrigerator, dorm-size sheets, new towels, decorations — and you are prepared to drive, fly or otherwise get them to their campus on time. Can you sit back and put up your feet on a job well done? Maybe not; there might just be one last task you need to check off your to-do list.
College Student Paperwork
As your child or grandchild gets older, you have less control over their life. This also becomes legally true when they turn 18. Once that happens, you do not automatically have the right to speak to their doctors, for example. Your child’s finances (even if you are supporting them) are private as well. So, you need them to sign three critical documents: a Health Care Power of Attorney with a HIPAA Release, a Durable Power of Attorney, and a Last Will and Testament.
The Health Care Power of Attorney allows you, after your child is 18, to make medical decisions if the child cannot do so.
When your child is younger than 18, you can make all medical decisions for them. That changes after they turn 18 and you lose that right. If they’re in an accident and are unable to make medical decisions for themselves, a Health Care Power of Attorney signed in advance would allow you to be their health care agent.
The HIPAA release form also is important. Many parents are probably still paying medical bills for their college-age students and helping them make medical decisions. Sometimes we make doctor appointments for them. When they turn 18, this authority to review their medical records and to communicate with their physicians vanishes. The HIPAA allows you to review your child’s medical records.
Along the same lines as the health care documents, your child needs to sign a Durable Financial Power of Attorney allowing you to continue to pay his or her bills and deal with creditors, the school and the financial part of health care issues. This authority is helpful as you begin to teach your child how to establish credit, pay for expenses on time and become financially stable.
Many people don’t consider a Last Will and Testament to be necessary for a young adult who has few assets and no children. While a will is less important for most 18-year-olds, if something tragic happens, a will makes the passing of assets and handling estate issues easier than going through the process without one.
If you have a child or grandchild approaching adulthood and heading off to college, now is the time to consider these important documents and to reach out to your estate planning attorney to help guide your over-18 loved ones. Remember, it’s their choice now. It’s hard; just take a deep breath and know that it’s going to be OK.
Laurie G. Steiner is a member Solomon, Steiner & Peck, Ltd. She is a Certified Elder Law Attorney by the National Elder Law Foundation and the Ohio State Bar Association. She practices in the areas of Elder Law, Medicaid, VA and Disability Planning and Estate and Trust Planning and Administration.
