A question we get a lot from our clients, who are planning with us is “We are protecting our kids, but are our kids, themselves actually protected?” When this question comes from a client with older children, we advise our clients that, when your kids turn eighteen, they are legal adults. At that time, parents can no longer see their child’s medical records, they can’t get information about their kids, anymore, because, technically, their kids are on their own in the eyes of the law.
How do we get around that?
At The Parents Estate Planning Law Firm, PC, we have eighteen-year-olds sign a few different legal documents which allow their parents to access their information the same way that they have been during their childhood.
These documents include a Durable Power of Attorney, so that parents can access financial and legal information for their kids and, if needed, make decisions on their behalf, a Health Care Proxy, so that parents can access health care information, and a HIPAA waiver, so that parents can see their children’s medical records.
This is a great thing to do if you have a new graduate from high school, going off to college or studying abroad. We encourage all of our clients to have this in place, so their full family is protected.
You can get more detailed information about these documents, and why they are essential for anyone over the age of eighteen, during our Protecting Your Adult Child Webinar. Learn everything you need to know about protecting your young adult in just twenty minutes, from the comfort of your living room.
We can further advise you and your young adult on all your options and make things as easy as possible for your family during a Family Wealth Planning Session. If you would like to have a talk about estate planning for your family, call our office today to schedule a time for us to sit down and talk.