College-Bound Kids? The Essential Estate Planning Documents They Need

College-Bound Kids? The Essential Estate Planning Documents They Need

Sending your child off to college is an exciting milestone, but it also comes with new challenges. As your child begins this new chapter, their legal adulthood means you no longer have automatic authority to access their medical, educational, or financial information—or make decisions for them. Including basic estate planning in their college prep ensures you’re equipped to support them if the unexpected happens. One should not delay setting up essential estate planning documents for college-bound kids to ensure their well-being.

Why Estate Planning Is Essential for College Students

Once your child turns 18, they gain full legal control over their decisions. While they may still rely on you, privacy laws like the Health Insurance Portability and Accountability Act (HIPAA) and the Family Educational Rights and Privacy Act (FERPA) restrict your access without proper documentation. This can delay your ability to help in emergencies. Proper estate planning documents are crucial for college-bound kids to navigate these legal complexities.

Key Estate Planning Tools for College Students

  • 1. FERPA Release: This release allows your child’s college to share their educational records with you. Without it, you may be locked out of important information, even during emergencies.
  • 2. HIPAA Authorization: A signed HIPAA authorization lets healthcare providers share your child’s medical information with you. Without it, you won’t be able to discuss their condition or treatment with doctors.
  • 3. Durable Financial Power of Attorney: This document allows you to manage your child’s finances if they’re unable to, such as handling their bank accounts, paying bills, or signing important documents. It’s especially helpful if they’re attending school far from home or abroad. This is one of the essential estate planning documents for college-bound kids.
  • 4. Medical Power of Attorney: This tool allows you to make medical decisions for your child if they’re unable to communicate their wishes. In emergencies, this document ensures someone trusted can advocate on their behalf without court intervention. It is an essential part of estate planning for college-bound kids.
  • 5. Advance Healthcare Directive or Living Will: An advance healthcare directive outlines your child’s preferences for end-of-life care, providing guidance to their medical decision-maker. While it’s difficult to think about, this document can prevent uncertainty in critical situations.
  • 6. Will: Though your child may not have significant assets, they likely have digital property—such as social media, gaming accounts, or online subscriptions. A will ensures their preferences for managing these accounts are honored.

The Risks of Delaying Estate Planning

Emergencies happen, and young adults are not immune. Each year, many college-aged individuals wind up in hospitals, leaving their parents unable to make decisions or access information. Without proper documents, you may face court delays and expenses to step in and advocate for your child. To avoid these issues, ensure you have the essential estate planning documents for college-bound kids.

Protect Your College-Bound Child Today

Estate planning provides peace of mind and ensures you can support your child when they need you most. Contact us today to set up the essential documents and protect your family through this exciting new chapter. Don’t wait until it’s too late. Make sure you have all necessary estate planning documents for your college-bound kids.

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