A young adult who has just turned 18 has many things that they are looking forward to and plans that they are making. Many families with young adults don’t think about Powers of Attorney and Health Care Surrogate documents. These items should be in place before young adult heads out into the world.
Health Care Directives and Solutions
Once a person turns 18, their parents or guardians can no longer access medical records. If there is a medical emergency, parents cannot automatically get information or make decisions about their child’s care.
In a less extreme situation, such as if the young adult is ill and seeking treatment from a walk-in clinic, parents would not be able to communicate with the facility to get an update on the condition of their young adult child. However, a Health Care Surrogate designation and HIPPS release will help you overcome these roadblocks.
Many young adults will still look to their parents or trusted adults for advice in many different aspects of their life. Suppose they find themselves sick and in the hospital. In that case, Health Care Directives can give everyone peace of mind and make sharing crucial medical information more accessible for everyone to understand and discuss with doctors.
Power of Attorney
On the 18th birthday, parents can no longer communicate protected information with institutions such as schools, banks, and housing complexes, even if the parent is paying for school and housing.
A Durable Power of Attorney allows another person access to handle property and financial transactions. A Durable Power of Attorney can be helpful for young adults that are traveling out of the country or have an unexpected accident. A Durable Power of Attorney can. Permit someone you trust t handle your money under certain circumstances.
Even though turning 18 makes you legally an adult, you may find that there are still many times that you will ask a parent or trusted adult questions about big and small decisions in your life. Giving them access through a Durable Power of Attorney can make a big difference in the peace of mind of an adult.
Not all young adults have a close relationship with their parents. You do not have to name a parent on your Power of Attorney. Listing a trusted adult as your Power of Attorney can give you peace of mind knowing that if anything happens, your financial needs will be taken care of by someone you trust. Discussing the options with an attorney before making a final decision is essential.
Draft a Will
It will aid your young adult throughout their life if you start showing them the importance of having a will, even at this young age when they may not have any assets. This will should be updated throughout their life and will have many variations of beneficiaries as life-changing events happen. Life-changing events include having children and getting married. A Will also allows the young adult to say who will get their assets.
Before deciding about Wills, Powers of Attorney, or Health Care Directives, you should speak with an attorney. An attorney can help you know all the options, how they work, when they would come into play, and what the best options are based on your circumstances.