When your child turns 18, they’re legally considered an adult even though they have a lot more growing to do. Just like any other adult, their health and financial information is protected by privacy laws. But unlike any other adult, that’s still your child and you want to be there to support them in a crisis. Unless you’ve planned ahead, you won’t be able to step in and support your child.
The good news is that with proper planning, you can help your newly-minted adult child navigate this transition and ensure you’re able to step in if something happens. Here we’ll share 3 strategies to help you and your child make the transition to their adulthood as easy as possible.
Strategy 1: Education
The first strategy for a successful transition to adulthood is education. At our firm, we start every client relationship with education. That’s because we believe that education equals empowerment, which supports you to make the right choices for yourself and your family. Young adults also need to be empowered through education. The more you can teach your child about their new financial and legal responsibilities, the more empowered they’ll be to make the right decisions.
Health care is another critical area where your child needs education. Let your child know that you can’t make medical decisions for them and you won’t have access to their health records anymore – unless they give it to you. We’ll cover which essential documents they need in a minute, but first, let’s talk about the importance of communication in helping them document their wishes properly.
Strategy 2: Encourage Communication
Two conversations to have with your child have to do with their healthcare and financial decisions in the event of an emergency. Have an open conversation about what your child would want to happen in various medical scenarios. If they became incapacitated, who would they want to make decisions on their behalf? Both parents or one of you first, then the other? Or do they want anyone else involved in the medical decisions if they cannot make them on their own? Be open to the possibilities that they have other people in their life that they may want to include, and be glad they’re telling you about it, if that’s the case.
Do they know what a ventilator is and whether they’d want one if it became an issue? What about a feeding or hydration tube? And what about resuscitation? It’s necessary to talk about these things so your child’s wishes are honored. Who would they want to have access to them in case of an accident or an illness? Once you know the answers to these questions, you can help your child create a health care directive and medical power of attorney.
Have the same conversations about finances. Do you know which and how many financial accounts they have? If they’re in college, how will you access their account to stop tuition payments or housing payments if necessary? Will you be able to access their checking account if bills need to be paid? Your child may be reluctant to discuss these matters with you, but assure them you have no intent to violate their autonomy. You simply want to be there for them, if needed.
Strategy 3: Legal Planning
Once you and your child have had these difficult conversations, emphasize the need to get a legal plan in place so their wishes are documented and honored. At the least, your adult child’s legal plan should include the following documents.
Health Care Proxy and Advance Directive. A health care proxy grants someone, usually you, the authority to make medical decisions on your child’s behalf if they cannot. An Advance Directive complements this by outlining their medical treatment preferences in various scenarios, ensuring their wishes are respected even when they can’t voice them.
HIPAA Authorization. The HIPAA Authorization is equally important. HIPAA (Health Insurance Portability and Accountability Act) is designed to protect patient privacy, but it can also prevent you from accessing your child’s medical information without their explicit permission. By signing a HIPAA Authorization, your child can ensure that you can speak with doctors and receive updates on their condition.
Living Will. A living will is another important document to consider. This outlines your child’s wishes regarding end-of-life care, such as whether they want to receive life-sustaining treatments. Having these preferences documented can provide clarity and guidance during difficult times, ensuring that their wishes are honored.
Power of Attorney. A power of attorney allows your adult child to appoint someone (again, usually you) to manage their financial affairs if they’re unable to do so. This can include everything from paying bills to managing bank accounts and handling investments. Without this document, you might find it difficult to step in and help when needed.
The Support You and Your Child Need
We know that navigating the transition to adulthood can be challenging, both for you and your child. Understanding the legal changes that come with turning 18 and using the 3 legal documents (and the conversations that go with them) in this article can help you provide the support and guidance your child needs. But you don’t need to navigate this transition alone. We can educate you and your child about their new legal responsibilities, support you to have the hard conversations, and help your child put a legal plan in place.
AB Law, PLLC is a full-service business law and estate planning firm that serves clients throughout Texas. All consultations are free and no question is too silly, ridiculous, or complex. https://calendly.com/ablawpllc www.ab-firm.com