Sending an 18-year-old off to college may cause parents to think about key planning issues. In the excitement and buzz of getting the child off to his or her new adventure, however, it can be easy to forget just how important it is to accomplish all proper estate planning goals.
An individual who has reached age 18 is technically classified by the law as adult. Without having a proper healthcare power of attorney in place, it could be difficult for an adult parent to receive access to the loved one’s health records or other information, should the loved one become injured.
Accidents can and do happen and this is the appropriate planning opportunity to ensure that your adult child has the right estate planning documents in line. A medical power of attorney can be extremely beneficial for children who have reached age 18 but may still need their parents to step in and assist in the event that an emergency happens.
Don’t neglect planning for a medical power of attorney when completing the process of sending your loved one off to college. Talk with your college-aged son or daughter about all of their options so you know what to expect going forward. Planning ahead is strongly recommended.
