An eighteenth birthday is an exciting milestone. It often signifies high school graduation and movement to the next stage in life. It can be hard to believe that the person who may still rely on you for money, food, and lodging is now, legally speaking, an adult with rights of their own.

Turning 18 is a critical moment in estate planning—regardless of whether your child intends to work part-time or full-time, attend college, or even take a gap year to travel.

Once your child becomes a legal adult, they gain a host of rights and responsibilities. At the same time, your own legal access to their medical and financial information becomes significantly restricted. These well-intended protections can sometimes lead to unintended and stressful consequences for families.

To support your child during the often-tumultuous years ahead, you need information. Unfortunately, the very laws that once protected their personal information from outsiders now prevent you from accessing it. One day you are able to make decisions in your child’s best interest; the next day, your child must sign paperwork giving you permission to help.

For example, once your child turns 18, the Health Insurance Portability and Accountability Act (HIPAA) prevents doctors and other healthcare providers from discussing your child’s medical condition with you during a crisis. Similarly, banks and credit card companies will no longer share details about accounts held solely in your child’s name. Even colleges and universities may refuse to release your child’s grades—even if you are paying the tuition. Imagine footing the entire bill but not having access to a report card.

Fortunately, you can ensure your ongoing ability to assist your child by putting two straightforward legal documents in place:

• A Financial Power of Attorney, and
• An Advance Healthcare Directive (which includes a medical power of attorney and living will).

Once you are named as your child’s agent in these documents, you will be able to handle necessary financial or medical matters on their behalf. These tools allow you to continue protecting and supporting your young adult with confidence as they navigate the many unexpected challenges of life.

For more information about what to do when your child turns 18 and to explore additional estate planning strategies, you can refer to my book The S.M.A.R.T. Estate Plan or contact me at the office.