Estate Planning for 18-Year-Olds

estate planning, estate planning for teenagers, medical power of attorneyWhat Every Parent and 18-Year-Old Should Know

When a child reaches the age of 18, that child’s parents are no longer entitled to access their medical records and make decisions on their behalf. In the event that something happens, it is extremely likely that medical professionals of care providers may refuse to consult with or even release information to the parents. In order to alleviate any possible issues, it is highly recommended that all 18 year olds execute a medical power of attorney, which enables a trusted family member or friend to access health information and make decisions on the student’s behalf in the event they are unable to do so.

A few additional documents to consider are an Advanced Directive, HIPAA Release, and a Statutory Durable Power of Attorney (aka a financial power of attorney).

A statutory durable power of attorney can be a good idea for a new adult who needs (or wants) to give a parent the ability to pay his or her bills, or have access to his or her banking information and the like.

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