The long, carefree days of summer are drawing to a close. If you have a high school senior at home, childhood is also coming to an end for them as they prepare to graduate, turn 18, and enter the “real world.”

You have done everything you can to prepare your child mentally, emotionally, and financially for what comes next. But are they—and you—legally prepared for their official start of adulthood?

Soon, your child will be able to vote, get married, and sign a mortgage. They will also be emancipated from your parental authority. This means that, without signed legal documents, you may find yourself unable to intervene in an emergency or other situation where your adult child requires assistance.

Adventures in Adulting

Parents never stop being parents. Regardless of their age, we feel compelled to nurture and protect our kids. However, our ability to do so is severely limited once our kids turn 18.

It is debatable whether an 18-year-old can be considered an actual adult. Scientists who study the brain say the transition to adulthood is cognitively much more nuanced, and, for some, brain development is not complete until people reach their late 20s or early 30s.

Brain research helps explain why many young people engage in risky behavior well beyond the time they reach the age of legal adulthood. The transition from adolescence to adulthood is fraught with potential health risks.

The point here is not to scare you but rather to prepare you and your soon-to-be adult child with the resources to meet unexpected possibilities head-on.

Although you may recognize the dangers that await your child in the adult world, you may be unaware of what to do if something happens to them. Suppose they have not signed certain estate planning documents and are unable to communicate their wishes. In that case, you will likely need to petition the court before you can obtain information about them and make decisions on their behalf. And that takes time you might not have.

It does not have to be something terrible, like an accident, that triggers the need for a trusted decision-maker. Perhaps your child plans to join the military, attend an out-of-state university, or travel abroad after graduation. Regardless of their plans, they should establish a basic estate plan by the time they turn 18.

The 18-Year-Old's Estate Plan Starter Pack 

While an 18-year-old may not need a comprehensive estate plan, they should at least prepare a few key documents that address the new reality of their legal independence and the fact that a parent no longer has the authority to manage their affairs.

Powers of Attorney

A power of attorney (POA) document authorizes someone else to act on your behalf regarding the circumstances outlined in that document. Depending on state law, POAs can take effect immediately, at a future date, or upon the occurrence of a specific condition (e.g., incapacity due to injury or illness). The latter is known as a springing power of attorney.

A Power of Attorney (POA) can be broad in scope or limited to only those actions and types of decisions outlined in the document. Additionally, states have varying rules governing POAs, and multiple forms may be required if your child is relocating to a different state than you.

●        A medical power of attorney enables an adult child to appoint another person to make medical decisions on their behalf. For example, it could allow you to step in and direct your child's care in a medical emergency.

●        A financial power of attorney grants a designated person the authority to conduct financial and legal matters, such as paying bills, filing taxes, and managing banking and investment accounts, on behalf of another.

Advance Directive/Living Will

Young people tend to feel invincible. But contemplating mortality and planning for it is a part of growing up.

One way to plan for a health crisis is with an advance directive, also known as a living will, which is a set of instructions that a person uses to outline their healthcare wishes in the event of a debilitating injury or illness that renders them unable to communicate. It will specify end-of-life medical treatment preferences, such as whether they wish to have a feeding tube, receive artificial hydration, or use a breathing machine to prolong their life.

These tools are commonly confused with a DNR (do not resuscitate) order. DNR orders are not typically included in an estate plan but are instead executed within specific medical facilities, such as hospitals or assisted living facilities.

Advance directives are not legally recognized in all states; however, where they are recognized, they can provide helpful guidance to the person acting under a medical power of attorney.

Health Insurance Portability and Accountability Act Waiver

As either a separate document or included in a medical power of attorney, a Health Insurance Portability and Accountability Act (HIPAA) waiver grants named individuals access to the adult child's protected health information. You may still need a HIPAA waiver, even if your child is currently covered under your health insurance.

Talk to Your Teen about Estate Planning

At some point, a parent and their teenager should sit down and discuss the legal rights and responsibilities of adulthood. Stress to your teen that, without documents such as financial and medical powers of attorney, state law will appoint a decision-maker for them, most likely a parent, in the event they are unable to manage their own affairs. If they want a different person making decisions on their behalf, they must name them in their legal documents. Additionally, inform them that preparing legal documents in advance will help them avoid the lengthy and public process of having someone appointed as their decision-maker.

Ready to discuss estate planning with your teen? We are happy to join the conversation and offer professional guidance.

Contact Hartmann Law Today

If you have questions about young adult planning, contact our office to speak to an estate planning attorney.

Take steps to start your Life and Legacy planning today!  Take action to ensure your voice is heard when you are unable to speak for yourself.  Make the decision to protect yourself, your loved ones, your business, and your property.   

Schedule a call today with Hartmann Law.

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