The Legal Documents Needed When Your Child Turns 18

Vested Partners A Multi-Family Office Blog

We have a new crop of high school graduates getting ready to go off to college. It’s a time of pride and excitement as your daughter or son prepares to venture into the world. Before your 18-year-old heads out the door though, it’s important that you have certain legal documents in place. Accidents happen and you want to be sure that you can act on your child’s behalf and speak to healthcare providers should the need arise.

Power of Attorney
This document enables a designated individual, referred to as an “agent” or “attorney-in-fact,” to make financial decisions on behalf of your child. With a power of attorney in place, you will be able to speak on your child’s behalf and get information that you otherwise would not have access to. The POA enables the agent to do a variety of things such as access bank accounts, pay bills, and make changes to financial aid packages.

Advanced Medical Directive
This document authorizes someone to make medical decisions on your child’s behalf should she/he be unable to do so.  A HIPAA release also gives you access to medical records and the ability to talk with health care providers. Through this document, your child can also give specific instructions about her/his healthcare and life-prolonging procedures.

At Vested Partners, we work with families at all stages in life and can help prepare these documents for you and your child. Call us and we’d be glad to schedule an appointment. Until then, grab your tissues and enjoy college move-in!

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