Estate Planning for Your Recent Grad(s)!
Your kid has FINALLY graduated high school. All of the hard work you have all put in has finally paid off. Maybe you’re ecstatic about it and maybe you’re not, but the moment has finally come.
Whatever your child has decided to do after graduation, there are some things that you, as parents, should be aware of.
- Your child is no longer a minor once they turn 18 years of age.
- Once they turn 18 years of age, you, as parent(s), are now unable to make any financial or medical decisions for your child without their written consent.
Below, we will breakdown all of the important documents that should be included in your child’s Life Planning:
The Family Educational Rights and Privacy Act is a document that pertains to your child’s privacy. If one of these releases is not executed, you would be unable to obtain your child’s school records and school officials will not provide you with any information pertaining to your child.
A document you are probably very familiar with, the Health Insurance Portability and Accountability Act pertains to a patient’s privacy when it comes to healthcare. Without a properly executed HIPAA Release, you are not privileged to any information regarding your child’s health, care, or treatment, should they end up in a hospital or urgent care.
Durable Financial Power of Attorney
This document pertains to your child’s finances. This can include control of bank accounts or any bills that your child incurs, should your child become unable to hold control for any reason.
Advance Healthcare Directive/Healthcare Surrogate
Similar to a Financial Power of Attorney, but this is specific to medical decisions made on behalf of your adult child.
If you have questions about your children in Florida, attorney Mark F. Moss can help you understand what options you have available. To arrange a confidential consultation over the phone or in person in Jacksonville, please call 904-329-7242 or inquire online today.
*Disclaimer: Reading this blog post does not create an attorney-client relationship and is not legal advice. This is for informational purposes only. It is best to speak with an attorney about your specific situation, questions, assets, concerns, and needs.