If you read history, you know American independence was not easily won. There was no guarantee the fledgling colonies would win, but they fought long and hard and as a result, every July 4th we celebrate our nation’s independence. If you’ve got a young adult in your life in Tyler, you know they’re often fighting in their own way to declare their independence.
As soon as they become legal adults, there are several legal tasks to take care of, especially if they are headed away from home to college in the fall or are moving to another state to start the next phase of their life.
When your child turns 18, they become a legal adult, but they may still need your help managing their finances. A General Durable Power of Attorney (POA) allows you to act on their behalf if they become incapacitated. This means you can handle their bank accounts, credit cards, student loans, and more. Without a POA, you would need to go to court to obtain conservatorship, which can be time-consuming and costly. A Tyler estate planning attorney at Campbell Law Firm can help create a POA tailored to your family's needs.
A Health Care Power of Attorney is crucial once your child becomes a legal adult. It ensures you can make medical decisions on their behalf if they are unable to do so. Without this document, health care providers might not discuss your child's medical condition with you, leaving crucial decisions in the hands of strangers. By setting up a Health Care Power of Attorney, you can ensure your involvement in their care. Read more about powers of attorney in our article, What Does “Power of Attorney” Mean?
HIPAA laws protect patient privacy but can create challenges for parents of adult children. Without a signed HIPAA Release Form, you might be denied access to your child's medical information during emergencies. This form allows you to communicate with medical personnel and access necessary records, ensuring you can be fully involved in your child's health care. An estate planning attorney can help you draft this essential document.
Your young adult likely has a significant online presence, including financial accounts, social media profiles, and more. If they become incapacitated or pass away unexpectedly, managing these digital assets can be challenging. By sharing digital asset information and having the appropriate legal documents in place, you can safeguard their online life from identity theft and other issues.
If your child is moving out of state for college or work, it's important to ensure their legal documents comply with the laws of both Texas and the new state. Some attorneys recommend having two sets of documents to cover both jurisdictions. Tyler Estate Planning Attorney Bradley Campbell can advise you on the best approach and help prepare the necessary paperwork.
Preparing young adults for independence involves more than just financial and health care planning. It's about ensuring they are protected and supported in every aspect of their lives. At Campbell Law Firm in Tyler, Texas, we guide clients with new young adults in creating comprehensive estate plans that cover all these critical areas. Don't wait until it's too late. Protect your young adult's future by booking a consultation today.
By taking these steps, you can celebrate your child's independence while ensuring their safety and well-being. Contact Campbell Law Firm to learn more about how we can help you with estate planning in Tyler, Texas.
