It’s that time of year: high school seniors are being accepted to their dream colleges and making plans for their freshman year. Parents are understandably overwhelmed helping their kids find roommates, applying for financial aid and logistically deciding how they’ll get their kids to and from their new home away from home — often times across the country. And while parents are emotionally preparing for their kids to leave home, they are often forgetting two of the most important things they should do for their now adult child: getting a health care directive and power of attorney in place.
Whether your child is planning on staying in-state or planning to go to school across the country, your adult children should have health care directives. Although you probably still consider your high school senior a “kid”, the Health Insurance Portability and Accountability Act (“HIPAA”) thinks otherwise. As a legal adult, your child is free to make their own health care decisions. But unfortunately, there may be a situation where your child is unable to make their own health care decisions, and without a health care directive HIPAA will prevent you from doing so. A health care directive will allow your child to appoint you, your spouse, or another person as their health care agent. And while you hope you will never need this document, it’s better to be safe than sorry.
A power of attorney is also an important tool if you plan on being involved in the financial piece of your child’s college journey. Even if you are the person responsible for paying the tuition, universities will not speak with you regarding the student’s financial obligations in the absence of a power of attorney. If you are your child’s designated attorney-in-fact in their power of attorney, you can act financially on their behalf.
If you or your child is interested in discussing health care directives or power of attorneys you can contact our estate planning attorney, Elizabeth Ridley Scott at escott@heleyduncan.com.