Our main office sits in between Duke University and UNC Chapel Hill. This time of year, we steer clear of the local Target as new co-eds elbow through pillows, shower caddies, and the like, searching for everything they need to ensure a great first year of college. It’s an exciting time for students and parents.
If you are the parent of a new college student, you are proud, perhaps a little sentimental, and maybe sad to see your pride and joy all grown up in the world. You’ve fluffed her new bedding, organized her ramen packets, and hugged her tighter than you ever have. It just doesn’t seem like enough. What else can you do?
Actually, there is something else you need to do. Unfortunately, this step is usually missing from start-of-college and back-to-school checklists. Make sure you have these important documents in place for your child:
Healthcare Power of Attorney
Your child needs a Healthcare POA so someone can make healthcare decisions for her in the event she is not able to make them herself. Once your child reaches the age of 18, you are no longer authorized to make healthcare decisions on her behalf.
This document will allow you to obtain healthcare information about your child. Without a HIPAA waiver, a health center or hospital will not release information to you about your child’s health if she is over the age of 18.
Durable Power of Attorney
This document will authorize you to transact on behalf of your child in connection with financial, legal and tax matters.
Does your child have any assets? Does she have a car, bank account, or credit card in her name? If so, she needs a Will to designate where those assets go in the event of her untimely death.
Social Media Designations
Increasingly, our clients are interested in designating who should have access to social media accounts in the event of incapacity or death. Do you know how your child would want her social media accounts handled? What about her online banking passwords? We help clients plan for handling digital assets, too.
We help families create these documents to safeguard choices you and your child should have during one of the most impactful times in life. Reach out to us today to check these important items off the list of things your child needs for college life.