Estate Planning For College

This fall, my youngest son Matthew will be starting his college journey at George Washington University in Washington D.C.. While his mother and I have spent a lifetime preparing both ourselves and him for this moment, there is one important thing that we’ve done that most people don’t think about.

As an estate planning attorney, I know better than most how the unexpected can derail even the best laid plans. If that unexpected is a medical emergency, once your child is over the age of eighteen, you will be on the outside looking in. Unless you have your son or daughter executes Powers of Attorney, medical and financial decisions cannot be made by you on their behalf. If something were to happen and your child was incapacitated, you would not be able to help them.

How do you ensure that you can step into the role of decision maker in the event that your student cannot make their own decisions? You plan ahead, and have your son or daughter execute both a Durable Power of Attorney and a Healthcare Power of Attorney (which contains a HIPPA release). By having both documents, you will be able to come in and provide care and guidance if something goes wrong.

Don’t put you or your child into a position where something has gone wrong and no one can help. By having your loved one execute these documents before they go off to school, you are setting them, and yourself up to remain in charge if the worst happens.