Legal Documents Your 18-Year-Old Shouldn’t Leave Home Without

Normally, one thinks of healthcare and financial powers of attorney as something “older people” need.  However, as a 2014 Forbes article states, children turning 18 also need to sign these two documents before they leave home – or even if they stay home.

What most parents don’t know is that once a child turns 18, the parents have no access to the medical and financial records of that child – now officially an adult – even if parents are paying for their new adult’s healthcare insurance and/or funding those bank accounts. 

This lack of access can be a nightmare in a healthcare emergency when parents don’t have access to all of the new adult’s medical records to help direct the doctors.  While financial concerns are not usually as time sensitive, there may be times when the new adult would want someone else to act on their behalf such as renewing a car registration, signing a lease in their absence, or accessing a bank account.

In addition to these documents, the new adult also needs a living will to address end of life decisions.  And while they are at it, if the new adult wants to leave any assets owned now – or assets that may be acquired prior to getting around to changing their will – to someone specific, a will is needed as well.  Without a will in place, any assets pass according to state intestacy laws which can be complicated.

If you or someone you know could benefit from these documents, please feel free to share this article or give them my information.