As your child approaches or reaches their 18th birthday, it's not just a cause for celebration; it signifies an important legal transition. At AmeriEstate Legal Plan, we understand the importance of this shift and are here to provide expert guidance to ensure a smooth transition into legal adulthood for your child. Let's explore the changes you and your child will encounter and discuss strategies to navigate this transition effectively.
Understanding the Legal Shift at 18
The moment your child turns 18, there's a notable change in your legal relationship. Your authority to make healthcare and financial decisions on their behalf comes to an end. This shift can present challenges, especially in emergencies or when your adult child requires assistance with managing their affairs. Recognizing and understanding this transition is the first step toward navigating your child's journey into legal adulthood.
Financial Management with a Financial Power of Attorney
The Financial Power of Attorney allows your child to appoint someone to oversee their financial matters. It serves as a proactive measure to continue providing financial support beyond their 18th birthday. However, it's essential to verify financial institutions' policies regarding POAs to ensure seamless management of your child's finances.
Healthcare Decisions with a Power of Attorney for Healthcare
The Healthcare Power of Attorney authorizes someone to make medical decisions if your child becomes incapacitated. This document ensures that your child's healthcare preferences are respected, highlighting its significance in the legal adulthood transition.
Maintaining Access with a HIPAA Authorization
Once your child turns 18, their medical information becomes protected under HIPAA, restricting your access. A HIPAA authorization is a crucial document that allows doctors and other medical professionals to legally share potentially critical information with you about your child’s health status. This can be incredibly important should the time come when important decisions need to be quickly made.
DocuBank & In Case of Emergency (I.C.E) for Young Adults & Why Someone Would Need It
DocuBank is a secure electronic storage and retrieval system that stores important documents such as wills, healthcare directives, and emergency contacts for quick access when needed most.
In Case of Emergency (I.C.E) for Young Adults focuses on equipping young adults with a secure platform to store critical medical information, emergency contacts, health directives, and HIPAA documents ensuring their safety and well-being in unforeseen circumstances. Providing hospitals access to the documents and alerting parents.
Talk to Your Kids About Adulthood
Transitioning into adulthood involves more than just legal changes. Engaging in open conversations with your child about their healthcare and financial preferences is important. Having these discussions is vital for both you and your child to prepare for the realities of their legal adulthood.
Plan for Your Child's Legal Adulthood Transition with AmeriEstate Legal Plan
At AmeriEstate, we are dedicated to guiding families through the legal adulthood transition of their children. Contact us today to explore how we can assist in preparing for this new chapter in your child's life.
Download our In Case of Emergency Document Checklist for College Students & Young Adults now.