Did you know that when a child turns 18, parents and guardians lose access to their medical, financial, and academic records? It's a significant shift that catches many off guard. However, with the right legal documents in place, you can ensure continued access and support for your child in an emergency.

Key Reasons to Have Important Legal Documents on Hand

As kids head off to college or even while they're still in high school but have turned 18, it's crucial to have essential legal documents prepared. This not only helps you stay informed and involved in their lives but also ensures that you can act quickly and effectively in an emergency. Here are the four critical documents every parent should consider:

1. Durable Power of Attorney

A Durable Power of Attorney allows you to manage your child's financial matters if they cannot do so themselves. This is essential for situations where your child might be incapacitated or simply unavailable. With this document, you can pay bills, access bank accounts, and make important financial decisions on their behalf.

2. Medical Power of Attorney

With a Medical Power of Attorney, you can make health care decisions on your child's behalf if they become incapacitated due to illness or injury. This document helps you avoid costly and time-consuming court proceedings, ensuring you can act swiftly in a medical crisis.

3. HIPAA Waiver

A Health Insurance Portability and Accountability Act (HIPAA) waiver is vital for maintaining access to your child's medical records. By signing this waiver, your child gives you permission to communicate with their health care providers and stay informed about their health care decisions.

4. FERPA Waiver (Optional)

A Family Educational Rights and Privacy Act (FERPA) waiver grants you access to your child's educational records, including grades, test results, and disciplinary actions. This can be particularly helpful in staying involved with their academic progress and addressing any issues that may arise.

Why This is Important Before College

Before your child takes off for college in August, having these documents in place is crucial. The transition to college life brings new responsibilities and challenges, and ensuring you have the legal ability to support them can provide peace of mind for both you and your child. Remember, legal requirements vary by location, so it's essential to research the specific requirements in your state and any state where your child resides or attends college.

Don't wait until it's too late. Preparing these documents now can save you time, stress, and potentially significant costs in the future.

Contact Meritrust Wealth Management

I f you have any questions or need assistance with preparing these essential legal documents, don't hesitate to contact us. We're here to help you navigate this important transition and ensure your child's continued safety and support.