Once your child turns 18, he or she is now an adult. Whether your child is off to college, trade school, taking a break and traveling or starting work immediately after high school, the fact that he or she is now an adult, means that you may not have the right or ability to access information regarding their health, make healthcare decisions, or make financial decisions for them, even in an emergency.
Legal Documents Required to Help Your Adult Child
We recommend that young adults consider executing legal documents to allow their parents access to their medical information, to make medical decisions and to manage their financial affairs if they are unable to do so. Should an emergency arise, having documents in place ensures that someone is able to make decisions and have access to information.
Financial Power of Attorney
Should your adult child become incapacitated because of an accident or health crisis, it is possible that no one will be able to handle his finances, including paying bills. A financial power of attorney gives an agent permission to manage his finances, including communication with banks and other financial institutions. If you are named as the agent, you will be able to make deposits and withdrawals on their behalf, pay bills as they become due, and speak with insurance companies and others about financial matters.
Advance Directive for Healthcare
In addition to naming the agent to make decisions in the event one cannot make medical decisions, an advance directive typically includes a HIPPA release that allows the named agent to receive medical information. Having access to information about an adult child who had a medical emergency and can no longer make decisions on his own, is essential and can allow you to receive medical records, decide on treatment options, and receive lab results.
FERPA Waiver
If your adult child is going to college or a vocational school and you wish to have access to their financial or academic transcripts, then they should sign a waiver giving consent. The Family Education Rights and Privacy Act (FERPA) prevents you from having access to your adult child’s financial and academic transcripts; however, he or she can sign a FERPA waiver to give you access to this information.
While you and your adult child should both enjoy your adult child’s new freedom, he or she needs a trustworthy person to handle their affairs if they are unable to do so. Contact us at 678.781.9230 to help you make sure your adult child is protected in the event of an emergency.
Disclaimer
This Blog/Web Site is made available for educational purposes only as well as to give you general information and a general understanding of the law, not to provide legal advice. By using this blog site you understand that there is no attorney client relationship between you and Grissom Law, LLC.