Ask Your College-Aged Kids to Do Some Estate Planning

Families with adult children should consider asking them tofill out a health care proxy with a HIPAA release.

In the event an accident leaves an adult child unable tocommunicate, this measure can prevent families from having to petition a courtto be appointed legal guardian.  Underthe Health Information Portability and Accountability Act, once children turn18, their health records are between the child and their health careprovider.  Without a designation on ahealth care proxy form, parents may encounter “obstacles before receivingcritically needed information, including whether [the] adult child has even beenadmitted to a particular medical facility.”

It may also be a good idea to ask adult children to fill outa durable power of attorney in case bills need to be paid during a medicalemergency or while the child is traveling.

See Anne Tergesen,Why Your Kids Need Their Own Estate Plan,Market Watch, Aug. 6, 2013.