4 THINGS TO TAKE CARE OF BEFORE YOUR KIDS GO TO COLLEGE:

Many parents will soon watch their children become adults (at least in the eyes of the law) and leave home to pursue their education and career goals. Turning 18 and moving out is a huge accomplishment. And it also comes with some serious responsibilities that probably aren’t at the forefront of their (or your) mind right now. Once your children become legal adults, many areas that were once under your control are now solely up to them. Here’s the big one: Before they turned 18, you had the power to make all of their healthcare decisions and had access to their financial accounts. After they turn 18, however, you’re no longer able to do either.

Before your kids head out into the world, you should discuss and have them sign the following estate planning documents, so if they become incapacitated, you can easily access their medical records and financial accounts without having to go to court. Signing these documents will ensure that if they ever do need your help and guidance, you’ll have the legal authority to easily provide it.

1. ADVANCE HEALTHCARE DIRECTIVE (Medical Power of Attorney)

Medical power of attorney allows your child to name an agent (like you), who has the power to make healthcare decisions for them if they’re incapacitated and cannot make such decisions for themselves. For example, this authority allows you to make medical decisions if your child is knocked unconscious in a car accident or falls into a coma due to an illness. In New Jersey, this document is known as an Advance Health Care Directive.

That said, while a medical power of attorney would give you authority to view your child’s medical records and make treatment decisions, that authority may only go into effect if the child becomes incapacitated unless your child indicates that the power of attorney is effective immediately. This means that unless your child is incapacitated, you do not have the authority to view their medical records, which are considered private under HIPAA.

2. HIPAA AUTHORIZATION

Passed in 1996, the “Health Insurance Portability and Accountability Act,” or HIPAA, requires health care providers and insurance companies to protect the privacy of a patient’s health records. Once your child turns 18, no one—not even a parent—is legally authorized to access his or her medical records without prior written permission. This is easily remedied by having your child sign a HIPAA authorization that grants you the authority to access his or her medical records. This can be critical if you ever need to make informed decisions about your child’s medical care.

3. DURABLE POWER OF ATTORNEY (for finances and property)

In the event your child becomes incapacitated, you’ll also need a durable power of attorney to access his or her financial accounts. If you do not have a signed, financial durable power of attorney, you’ll have to go to court to get access. While a medical power of attorney will authorize you to make healthcare-related decisions on their behalf, durable power of attorney will give you the authority to manage their financial and legal matters, such as paying bills, applying for Social Security benefits, and/or managing banking and other financial accounts.

4. FERPA RELEASE

The Family Educational Rights and Privacy Act is designed to protect a college student’s privacy, but it can also leave parents locked out in an emergency. A properly worded release can allow parents to talk to school officials and release pertinent educational records and information should they need it.

If your child is getting ready to leave the nest to attend college or pursue some other life goal, we can help them articulate and legally protect their healthcare and medical wishes. With us in your corner, you’ll have peace of mind that your child will be well taken care of in the event of an unforeseen accident or illness.