Protecting Young Adults
You have invested the last 18 years caring for your newly-minted adult son or daughter, ensuring that he wears a coat when it is raining and she eats her Brussel sprouts, no matter how “gross” they may be. Your job as a parent or grandparent has been to protect them, from themselves as much as from outside dangers. Now that he or she is going off into the adult world, whether to college or into the workforce, they will need you in that protective role more than ever (not that they would actually admit it).
Before your newly-minted adult child leaves to take the next step, they should get their basic “legal house” in order, by signing some essential legal documents so you can continue to help, if life gets complicated. Not sure what those documents are? There is no need to worry. Read on for an overview of what they are and why each is necessary.
FERPA Release
If your adult child will continue pursuing his education or training, then the Family Educational Rights and Privacy Act is structured to protect the privacy of your adult child, when it comes to educational records. While this privacy protection is good news on many fronts (especially for Johnny if he is getting a “D” in Chemistry), it could end up preventing you from having access to critical information, in the event of an emergency, or if your adult child is abroad and unable to deal with a time-sensitive educational issue. Having a FERPA Education Records Release in place, can allow you to access the records and information your adult child needs in these situations.
Helpful tip: Be sure to identify the school your adult child is attending — a general release may not always be sufficient to access the information you need. You can usually pick up a release form directly from the school or download the form from the school’s website.
Durable Power of Attorney for Health Care Decisions
Even though they may not think it is possible, young adults can become incapacitated due to an injury or illness, just like the rest of us. A sudden illness, sports injury, alcohol poisoning, or auto accident can land your adult child in an emergency room. If they have not given you written legal authority in advance to make health care decisions, then you may be unable to make those decisions, when needed. Consequently, it is best to plan for the worst now, by having your adult child appoint you as a decision-maker, called an Agent with a power of attorney for health care. While at it, a backup Agent should also be appointed, just in case something was to happen to you. Once executed, a copy of this medical power of attorney should be given to each of your child’s appointed decision-makers and primary care physician.
Living Will or Directive to Physicians
Young adulthood can be filled with risk, whether off at college, or entering the workforce. One decision no parent wants to ever make, is an end-of-life decision for a child. Make time for conversations with your adult child about the extent to which he or she would want medical treatment, under a variety of scenarios. In addition, have a discussion on the topic of organ donations. Should the decision to remove life support ever become relevant, this is the next medical matter that will need to be decided. All this guidance from your son should be put into writing in a Texas Statutory Living Will or Directive to Physicians.
The Conversation Project is a non-profit organization that provides resources and downloadable “conversation starter” kits to help facilitate these difficult discussions.
Helpful tip: It may be helpful to share your healthcare wishes with your adult child before asking them to consider their own.
HIPAA Authorization
While the Family Educational Rights and Privacy Act protects the educational information of your adult child, the Health Insurance Portability and Accountability Act (HIPAA) protects private medical information. Even if you have been appointed as the Agent through a healthcare power of attorney, healthcare providers will neither talk to you nor share her medical records with you without a HIPAA Authorization.
A proper HIPAA release form should include:
- the information that can be disclosed,
- the purpose of the disclosure,
- the name of the person to whom the information can be given,
- an expiration date for the release, and
- your adult child’s dated signature.
The form must also include statements that let your child know that:
- she has the right to revoke the authorization, subject to exceptions,
- how to revoke authorization, and that
- the information has the potential for re-disclosure.
Durable Financial Power of Attorney
What can be done about taking care of legal and financial matters, if your young adult is unavailable or becomes incapacitated? A durable financial power of attorney is needed. Through this legal document, your adult child may appoint an Agent to address a broad range of financial matters, including filing taxes, paying bills, and, if authorized, even managing digital assets like email, social media and other online activities. Once executed, a copy of this financial power of attorney should be given to each of the appointed agents and each financial institution. In that way, the institutions will be more likely to honor the authority given when needed or will provide their own in-house forms.
Important Tip: A financial power of attorney should be “durable.” A non-durable power of attorney would expire, should your adult daughter become incapacitated.
Some Final Thoughts
Nobody likes to think about any of their children becoming incapacitated. Unfortunately, your legal authority to make even basic personal, health care, and financial decisions ends when they reach legal adulthood. However, with proper legal planning now, you can be there for them, if needed. Are you leading by example? Have you made similar arrangements for yourself?
Talk with an experienced Estate Planning Attorney to put these plans in place. Book a call with our office today.
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