Essential Estate Planning Documents for a Young Adult

Turning 18 is a significant milestone. While estate planning may not be the first thing on a young adult’s mind, having certain legal documents in place can be crucial in case of unexpected situations. Here are the key estate planning documents everyone once they turn 18 should consider:

• Durable Power of Attorney

Once a person turns 18, parents no longer have the legal authority to manage their finances. A durable power of attorney allows a trusted individual (such as a parent or guardian) to handle financial matters, including banking, bill payments, and legal decisions, in case of incapacity.

• Health Care Proxy (Medical Power of Attorney)

In the event of a medical emergency, doctors cannot legally share medical information with parents without proper authorization. A health care proxy designates someone to make medical decisions on behalf of the individual if they become incapacitated. This is also important if you are no longer in contact with a parent as the law assumes that your parent has the authority to make these decisions if no one else has been designated, therefore, selecting someone you trust is vital.

• HIPAA Authorization

The Health Insurance Portability and Accountability Act (HIPAA) restricts access to medical records. A HIPAA authorization form allows designated individuals to obtain necessary medical information in case of an emergency.

• FERPA Release

The Family Educational Rights and Privacy Act (FERPA) protects the privacy of student education records. Once an individual turns 18, parents no longer have automatic access to academic records. A FERPA release allows designated individuals, such as parents, to access educational information and communicate with the school if needed.

• Living Will

A living will outlines an individual’s wishes regarding medical treatments and life support in case of a severe medical condition. This document provides clarity and ensures personal preferences are honored.

• Simple Will

Although most 18-year-olds may not have significant assets, a simple will can help designate beneficiaries for personal belongings, bank accounts, and digital assets. It also allows for the appointment of an executor to manage affairs.

• Why These Documents Matter

Without these essential documents, parents or loved ones may face legal barriers in assisting with financial, medical, or educational decisions. Preparing these documents early provides peace of mind and ensures that important matters are handled smoothly in unforeseen circumstances.

Estate planning is not just for older adults—it’s a smart decision for any legal adult. The attorneys at Minter & Pollak, LC can help you get these documents in place for you or your child. We provide free consultations and can be reached at 316-265-0797 or you can set up an appointment through our website with this link.