Do you have an 18-year-old headed off to college or a child making the gradual transition from dependent childhood to independent young adulthood? If so, you might be surprised to learn that there are important estate planning documents that will protect not only your young adult but also your ability to act as their representative in emergency situations.
Sitting down with your adult child and having them sign the appropriate documents, which designate a parent or trusted person to handle matters in the event of an emergency, can eliminate many potential unforeseen issues.
Without legal documents in place, a hospital or doctor will not allow you to make important medical decisions for your adult child, even in emergency situations. Imagine receiving a call at 1:00 a.m. from ER personnel in a faraway state asking for verification of your adult child’s insurance benefits. The care provider will not share any other information about the adult child’s condition other than the fact that he/she is in the emergency room at a particular hospital. Imagine the panic that this parent would feel before eventually learning treatment was sought for non-emergency, non-life-threatening medical issues. This happens. HIPAA laws protect an adult’s right to medical privacy, but the laws may also prevent you from gaining valuable information about medical conditions so that important decisions can be made.
Banks and other financial institutions also deny access to accounts, even if your young adult becomes incapacitated.
The truth is that all adults need certain legal documents to help protect their health and finances. That’s why Myatt & Bell is making it easier for parents and representatives to protect their loved ones as they become legal adults.
Here are five legal documents, known as Myatt & Bell’s “Grown and Flown Package,” that should be addressed with young adults when they turn 18:
We provide our Grown and Flown Package for a flat fee of $500.
If you are a parent or guardian, you can get started today by following these simple instructions.
If you are a young adult, please click here for more information.