Estate Planning for College Students
Estate planning covers more than a last will andtestament. When a person turns 18, he orshe is legally an adult and parents can no longer make decisions for theirchild without consent. Therefore, adultchildren should take certain actions to have a parent or agent make decisionsfor them in case of an emergency. Hereare four documents college students should have to ensure they have protectionshould anything unexpected happens:
- Power of Attorney. This will give an agent the authority to makefinancial or legal decisions on their behalf.
- Health Care Proxy. This will appoint someone to make medical andend-of-life decisions on their behalf.
- HIPAA Release. This will allow a named person to talk todoctors and receive information concerning their health.
- FERPA Release. This will allow a named person to receiveinformation concerning their school performance.
See JustinA. Meyer, Estate Planning for CollegeStudents . . . Really?, KOCO, Aug. 29, 2013.