Tag: Young Adult

Turning 18? Don’t Skip These 3 Legal Must-Haves

Post author By Sara Thomas
Post date June 4, 2025
No Comments on Turning 18? Don’t Skip These 3 Legal Must-Haves

With the arrival of summer, young people across the country are about to reach a key milestone: high school graduation. If you have a child claiming their diploma, now is the time to prepare them for life after leaving the nest.

Graduating from high school is a significant accomplishment. However, it comes with serious responsibilities that your child probably isn’t thinking much about right now. Once your child turns 18, they become a legal adult, and specific areas of their lives that were once under your control will be solely their responsibility.

While your child will now be a legal adult, you still have essential parental duties. Yet, if you don’t support your child in stepping into adulthood with legal documents to help both of you, it can be challenging and costly to help them in an emergency.

For instance, should your child get into a severe car accident and require hospitalization, you would no longer have the automatic authority to make decisions about their medical treatment or handle their financial matters. In fact, without legal documentation, you wouldn’t even be able to access his or her medical records or bank accounts without a court order.

To address this vulnerability and ensure your family never gets stuck in an unnecessary court process, have a conversation about estate planning with your kids before they move out or head off to college, and have them sign the following three documents.

01 | Medical Power of Attorney

The first document your child needs is a medical power of attorney. A medical power of attorney is an advance healthcare directive allowing your child to grant you (or someone else) the immediate legal authority to make healthcare decisions on their behalf if they become incapacitated and cannot make decisions themselves.

For example, the medical power of attorney would allow you to decide about your child’s medical treatment if they are knocked unconscious in a car accident or fall into a coma due to a debilitating illness.

Without a medical power of attorney in place, if your child suffers a severe accident or illness that requires hospitalization and you need access to their medical records to make decisions about their treatment, you’d have to petition the court to become their legal guardian. While a parent is typically the court’s first choice for a guardian, the guardianship process can be slow and expensive.

And due to HIPAA laws, once your child becomes 18, no one—not even parents—is legally authorized to access their medical records without prior written permission. However, an adequately drafted medical power of attorney will include a signed HIPAA authorization, so you can immediately access their medical records to make informed decisions about their treatment.

02 | Living Will

While the medical power of attorney allows you to make healthcare decisions on your child’s behalf during their incapacity, a living will is an advance directive that provides specific guidance. These are specifications on how your child’s medical decisions should be made, particularly at the end of life.

For example, a living will allows your child to advise if and when they want life support removed should they ever require it. In addition to documenting how your child’s medical care is managed, a living will also includes instructions about who should visit them in the hospital and even what kind of food they would want to have provided. For example, if your child is a vegan, vegetarian, gluten-free, or takes specific supplements, these are all things that should be considered and recorded in their living will.

03 | Durable Financial Power of Attorney

Should your child become incapacitated, you may also need the ability to access and manage their finances, and this requires your child to grant you durable financial power of attorney.

Durable financial power of attorney gives you the authority to manage their financial and legal matters, such as paying their tuition, applying for student loans, paying their rent, negotiating (or re-negotiating) a lease, managing their bank accounts, and collecting government benefits if necessary. Without this document, you must petition the court for such authority.

Start Adulthood the Right Way

Before your kids head out into the world, ensure they have the proper planning in place. By doing so, you are modeling good financial stewardship and setting them up immediately. Financial and legal illiteracy is an epidemic you can quickly address, starting with yourself and your family.

We can help you create these vital documents and facilitate a family meeting to discuss the importance of planning. We will begin what we hope will be a lifelong relationship with your children as they take this crucial first step into adulthood. Contact us today to get started.

This article is a service of August Law, a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life & Legacy Planning™ Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love.

The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer® firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

Tags Estate Plan, Financial Power of Attorney, Living Will, Medical Power of Attorney, Personal Family Lawyer, Young Adult, Young Adult Estate Planning

Estate Planning

Transition to Adulthood: The Legal Impact of Your Child Turning 18

Post author By Sara Thomas
Post date November 14, 2023
No Comments on Transition to Adulthood: The Legal Impact of Your Child Turning 18

Soon after the challenges of puberty and the excitement of high school, an even larger milestone looms: the 18^th birthday. It marks your child’s transition from childhood to adulthood, and with it new responsibilities and rights. From a legal standpoint, this milestone also brings significant changes that every parent should be aware of.

In the eyes of the law, an individual is considered a legal adult at the age of 18. This means that your child gains certain rights and privileges, including the ability to enter into contracts, vote, buy property, and make medical decisions for themselves. While this newfound independence is a crucial part of growing up, it can also pose challenges for parents, especially when adult children need their parents’ help or need someone to make decisions on their behalf.

We’ll explore the legal impact of what happens when your child turns 18, what it means for your ability to make legal, financial, and healthcare decisions on their behalf, and what tools you’ll need for a smooth transition to adulthood.

How The Law Changes Your Role As A Parent

On the day your child turns 18, your ability to make legal, financial and healthcare decisions for them essentially disappears in a blink. To give you a sense of how impactful this can be, if your young adult child is hospitalized and unable to communicate their wishes, healthcare providers won’t even legally be able to share your child’s medical information with you. Similarly, financial institutions won’t permit you to access your child’s accounts or make financial decisions on their behalf without their consent – or unless you’re a co-owner of their accounts.

This shift in decision-making authority can feel unsettling and can be particularly challenging if your child is still financially dependent on you, is in a medical emergency, or requires assistance in managing their affairs due to a disability. Thankfully, there are legal tools that can help parents and young adults navigate these new challenges.

Have Their Back With Powers of Attorney

A Power of Attorney is a legal tool that allows your child to designate the person they choose to make legal or healthcare decisions on their behalf. There are two common types of Powers of Attorney that can be valuable in this situation: a General Durable Power of Attorney and a Power of Attorney for Healthcare.

A General Durable Power of Attorney allows your child to appoint someone to manage their financial affairs in the event they become incapacitated or if they just want help managing their finances. With this in place, you can continue to assist your child with financial matters, even after they turn 18.

The important thing to remember however is that not every financial institution will honor a Power of Attorney, so while every adult should have this legal tool, it’s important to check with your specific institution and possibly set up your child’s accounts in a different way to ensure you have immediate access to them if needed. We’d be happy to discuss which options are best for you and your adult child.

A Power of Attorney for Healthcare grants someone the authority to make medical decisions on your child’s behalf if they are unable to do so, such as medication and treatment options, nutritional needs, and life-support measures. This is crucial to ensure that your child receives the care they want, even if they cannot communicate their preferences.

Only your child can put these measures in place, but encouraging them to create these legal documents is a proactive step in maintaining your ability to assist them when they need it most.

Stay Informed With a HIPAA Waiver

The Health Insurance Portability and Accountability Act (HIPAA) is a federal law that protects the privacy of individuals’ medical records. Once your child turns 18, their medical information is protected under HIPAA, and healthcare providers are prohibited from disclosing it to anyone without the patient’s explicit consent – parents and family members included.

To maintain access to your child’s medical information, they must complete a HIPAA waiver. This document permits healthcare providers to share medical information with individuals specified in the waiver, such as parents or trusted family members.

Having a HIPAA waiver in place can be invaluable during medical emergencies when swift access to medical records is critical. It can also be a valuable tool for young adults who may simply appreciate a parent’s ability to speak to their doctors when they aren’t feeling well or are overwhelmed with the demands of work, college, or both.

Support Their Journey Into Adulthood Through Open Communication

Transitioning to adulthood is a significant step for both parents and children. While legal documents such as Powers of Attorney and a HIPAA Waiver are essential, it’s equally important to have open and honest conversations with your child about their wishes and the responsibilities that come with adulthood.

Discuss their healthcare preferences, financial decisions, and their expectations from you as a parent. Encourage them to consider creating these legal documents not only for your peace of mind but also for their own protection.

We invite you to reach out to our firm to ensure your child has the legal support and protection they need no matter what adulthood brings.

And if you aren’t sure how to talk with your adult child about these legal tools, we can help you start the conversation from a place of love, compassion, and collaboration.

Schedule a complimentary call today to get started.

Tags Estate Plan, Estate Planning Attorney, Health Care Directives, HIPAA Waiver, Power of Attorney, Young Adult, Young Adult Planning

Estate Planning

10 Life Events That Signal It’s Time to Review Your Estate Plan – Part 1

Post author By Sara Thomas
Post date July 29, 2023
15 Comments on 10 Life Events That Signal It’s Time to Review Your Estate Plan – Part 1

Maybe you thought that creating a Will or Trust is something you can do once and then your family and assets are protected forever after. It seems to be how most lawyers structure their services, so it wouldn’t be surprising if you did think this. You work with your lawyer, they draft documents, you bring them home in a binder or notebook, put them on a shelf or in a drawer, and you never hear from them again. Estate plan, done. But, it’s not. Thinking of it this way could leave your family with a big mess when something happens to you.

In reality, life events can drastically affect your estate plan and even cause your plan not to work in the way you intended. To make sure your plan remains up-to-date throughout your life, we recommend reviewing your plan at a minimum of every three years. Because I am so passionate about this, I offer to review my clients’ plans every three years for free.

And, if any of these ten life events happen before your three-year plan review, you’ll want to have your plan professionally reviewed right away. Let’s take a closer look at these ten life events and how they can affect your estate plan and what changes may be required.

01 | Your Assets or Liabilities Changed

Life is full of changes, and your financial situation is unlikely to stay the same over time. Changes in your assets, such as acquiring a new home or other assets, selling property, or incurring debt should prompt a review of your estate plan. You may need to update asset distribution, beneficiary designations, and financial provisions to reflect these changes accurately and ensure that the people you love receive what you intend when you die. Most importantly, you need to update your asset inventory every time your assets change, and if you do not have an asset inventory, update your plan to ensure you have an inventory included. The biggest risk to your family in the event of your incapacity or death is that they do not know what you have, where it is or how to find it. We solve this by creating and updating your asset inventory, regularly.

02 | You Bought, Sold, or Started a Business

Owning a business adds another layer of complexity to your estate plan. If you’ve recently bought or sold a business, it’s essential to update your plan to reflect what you want to happen to your business when you die, ensure a smooth transfer of ownership (if desired), and create a plan to protect your business assets for yourself and your loved one’s future.

The financial and personal value of your business can be a significant gift to your loved ones both today and for years to come – if you know how to incorporate it into your estate plan in the right way.

03 | You Welcomed a Child to Your Family

Welcoming a new child into your family is an incredibly joyful moment. As a parent, it’s essential to update your estate plan to include provisions for your child’s well-being and financial future. This includes naming Guardians for minor children, creating a Kids Protection Plan®, and ensuring their financial security through Trusts or other means. It’s also important to document your wishes for your child’s education, religion, and values in your plan so that their legal Guardians will know how you would want your child raised if something happened to you.

04 | Your Minor Child Reached the Age of Majority (or Will Soon)

As your children grow up and reach the age of majority, it’s time to review how they will receive their inheritance, make sure someone can legally make healthcare decisions for them, and manage their money in the event they become incapacitated. Depending on their level of maturity, you may want to consider if they are ready to handle assets on their own and if so, what amount.

An even better idea is to provide lifelong protection of your child’s inheritance through the use of a Lifetime Asset Protection Trust. By using this estate planning tool, your child’s inheritance can be used to support your child’s future while safeguarding its use and protecting it from any potential future lawsuits or divorces your child may face later in life. This ensures that your children are financially secure as they head into adulthood while also supporting your children with financial responsibility.

05 | A Loved One Dies

The loss of a family member is emotionally devastating, and it can significantly affect your estate plan. If a deceased loved one was a recipient of assets under your Will, Trust, or financial accounts, it’s crucial to update these documents to make sure your assets will be distributed to the right people. Additionally, if the deceased individual was designated as a Trustee or Executor of your estate or a Guardian of your minor children, you will need to appoint new individuals to fill these roles.

Planning for Life’s Changes

Your estate plan is the foundation that protects your family and your finances today and in the future. But estate planning is not a set-it-and-forget-it task; rather, your estate plan should change and evolve with the changes in your life.

We’re here to guide you through life’s changes to keep your estate plan up-to-date and effective, so you can have the peace of mind of knowing that your plan will work exactly how you want it to when your loved ones need it most.

If you’ve recently experienced a significant life event or it’s been a while since your last estate plan review, now is the time to review your plan. If you haven’t created an estate plan yet, it’s better to plan early than to have no plan at all.

To get started, schedule a free 15-minute discovery call to learn more about my process where we’ll discuss your family dynamics and goals, address any changes in your life, and create a comprehensive estate plan that brings you peace of mind.

Plus, don’t forget to return next week when I’ll be discussing five more life events that signal it’s time to review your plan.

This article is a service of August Law, a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life & Legacy Planning Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love.

Tags Adoption, Birth, Death, Divorce, Estate Plan, Estate Plan Review, Estate Planning Attorney, Life Events, Marriage, Young Adult

Recent Posts

Recent Comments

Archives

Categories