Sending your child to college is a major milestone, but it comes with important legal considerations. Now that they live independently, handling a medical emergency could be much more complicated. The Wall Street Journal makes the case that, as parents, you must ensure your college-bound student has their legal documents in order. This way, you can help them if they need it in any situation that may arise.
Why are Legal Documents Important for College Students?
When your child turns 18, parents lose automatic access to their medical, financial, and academic records. You could face significant hurdles in helping them during emergencies without the proper legal documents in place. Experts recommend four essential legal documents.
General HIPAA Waiver
A General HIPAA waiver allows your child to grant you access to their medical records. Without this form, healthcare providers cannot share any medical information with you due to privacy laws. This waiver ensures that you stay informed about your child’s health and can make informed decisions in a medical emergency. While individual healthcare providers have their own version of a HIPAA Waiver, a General HIPAA Waiver will apply across all medical settings, and crucially, in emergency situations.
Power of Attorney for Healthcare
A Power of Attorney for Healthcare designates someone, refered to as the Agent, to make medical decisions on your child’s behalf if they are not able to speak for themselves. If your child becomes incapacitated due to illness or injury, you’ll need this document to manage their care. Individuals who have not appointed an Agent through a Power of Attorney for Healthcare, may face delays in receiving care while substitute decision-makers are located.
Durable Financial Power of Attorney
With a Durable Financial Power of Attorney, you can manage your child’s financial affairs if needed. This can include paying bills, handling bank accounts, and managing investments. Sometimes this is as simple as accessing an account at your hometown bank, while your child is away at college. This document is particularly important if your child is studying abroad or becomes incapacitated.
FERPA Waiver
The Family Educational Rights and Privacy Act (FERPA) protects the privacy of student education records. A FERPA waiver allows your child to grant you access to their academic records. This can be important if you need to stay informed about their academic progress or assist in managing their education.
How to Obtain Relevant Legal Documents?
Its best to consult with an experienced Estate Planning Attorney who can develop a comprehensive plan. Ensuring that the forms meet your state’s legal requirements is essential. Some documents may require notarization.
Do Legal Documents for College Students Vary between States?
The requirements for legal documents for college students can vary by state. If your child is attending college out of state, you may need to prepare valid documents for your home state and the state where your child studies. Consulting with an experienced Estate Planning Attorney helps properly prepare and execute all documents.
What If My Child Is Studying Abroad?
A Durable Financial Power of Attorney becomes even more critical if your child studies abroad. This document ensures you can manage their financial matters and make decisions on their behalf if they encounter issues while overseas.
Secure Your Child’s Future Today
Preparing these essential legal documents for college students maintains their safety and your peace of mind. Don’t wait until an emergency arises; take action now.
Why are Legal Documents Needed?
Without these essential legal documents, you could face significant challenges in assisting your child. For instance, you could be unable to learn about your child’s condition if they become hospitalized. You would also be unable to make decisions on their behalf to manage their care or finances.
Key Takeaways
- Access to Medical Information: A General HIPAA waiver ensures you can receive updates on your child’s health in emergencies.
- Medical Decision-Making: A Power of Attorney for Healthcare allows someone to make medical decisions for your child if incapacitated.
- Financial Management: A Durable Financial Power of Attorney enables you to handle your child’s financial matters if needed.
- Educational Records Access: A FERPA waiver lets you stay informed about your child’s academic progress.
- State Compliance: Ensures documents meet specific state requirements, which is crucial if your child attends college out of state.
- Peace of Mind: Having these documents prepared ensures you can support your child effectively in any situation.
Contact our office today to get these plans in place before your child heads off to campus.
Reference: WSJ (Aug. 14, 2023) “Before Your Child Goes to College, Complete These 6 Important Documents – WSJ”
