If you have a high school senior in your home, you know things are about to change. Most parents are so used to being able to make financial decisions for their child, access their child’s physician or health records that they don’t even think about how that changes once the child turns 18. You’ll want to be designated as your child’s agent and health care surrogate which will give you the ability to make medical decisions on their behalf if they are unable to do so. It also can give you a sense of security in knowing that certain details have been handled.
The Durable Power of Attorney allows the agent (in this case the parent) to make legal and financial decisions for the principal (the child). Meaning, the parent can manage the child’s finances and sign legal documents on the child’s behalf.
The Designation of Health Care Surrogate is a legal document that lists who can make medical decisions for a person who cannot make or communicate their own decisions. Everyone over 18 years old should have a Designation of Health Care Surrogate.
The most effective plans include both documents.
Why This Matters
Young adults are generally very healthy. In a recent survey, 96 percent of 18-to-24-year-old Americans reported being in excellent, very good, or good health. Yet the transition from adolescence and dependence on parents to independent young adulthood is fraught with potential health dangers. Several factors make the 20s potentially hazardous years: this is often the first time the child has been away from the parent for prolonged periods of time; this is the age of considerable risk-taking; and this can be the time when many young adults lose their financial and institutional safety net.
The best time to prepare these documents is once your child turns 18 and prior to your child leaving for college. You may want to seek assistance from a family financial advisor or legal counsel to gather and review the documents.
Do I need this if my child is on my health plan?
Yes, you do. A child may have opted to stay on the family health insurance plan rather than enroll in school-sponsored coverage. But enrollment in the family’s insurance plan does not preclude the child’s right to privacy. Without a healthcare proxy, parents are not entitled to medical information about an adult child.
Take the First Step and Contact Our Offices
Our goal is for clients to gain the peace of mind and feeling of empowerment that result from knowing they are receiving effective legal guidance and planning for themselves and their families. For answers to questions about this or any other estate matter please contact our offices at 305-723-1216.
