By Colin Smith | Contributor
In the United States, reaching the age of 18 is significant: teenagers are recognized as adults by law. Parents lose their authority, allowing young adults to make their own decisions and face the consequences of their actions. We often associate this milestone with newfound freedom, expecting it to last a lifetime—yet that isn’t always the reality.
Guardianship is a legal process that transfers a person’s legal rights to another individual. Consequently, the individual becomes a “ward,” akin to a child, under the guidance of a legal guardian. This arrangement is frequently essential for elderly individuals suffering from dementia, teenagers with mental impairments, accident survivors, and any situation where individuals cannot make decisions independently.
Many Americans hold the belief that maturity is not strictly tied to age. You aren’t mistaken: your teenager could exhibit greater maturity than your own parents. Your child might be a superior driver compared to your mom. (As a side note: attempting to hide car keys has proven ineffective; I recently encountered a situation where a mother resorted to renting cars when she misplaced her keys.) If you observe that your child is more competent than your parents, it might be the right moment to consult an attorney to review the situation. When such circumstances arise, it’s crucial to examine existing legal documents. Interestingly, the same documents can apply to both your parents and your children!
What should we do before our kids head off to college?
When a student turns 18, it’s vital for them to sign a straightforward estate plan, although this should not happen before their birthday. Parents should retain copies of these crucial documents, and attorneys must ensure their validity in the state where the student will attend college. It’s common knowledge that young adults tend to misplace items, so parents should maintain copies of financial aid information, any lease agreements, contact details for the university’s clinic or health center, and the contact information for both roommates and their families. It’s also wise for any financial accounts to be jointly held with the parents as co-owners.
What documents do we need to have to act on behalf of our adult children or our parents?
Having a durable power of attorney (for financial matters), a medical power of attorney (for healthcare decisions), and a HIPAA release (for access to health records) is essential for all parties involved. While advance directives and wills can feel uncomfortable to discuss, they are crucial. Guardianship provisions in case of incapacity allow individuals to designate their preferred guardian for the future. An advance directive, or living will, permits adults to express their wishes regarding life support measures.
Do I need to revise any of my documents?
When a minor turns into an adult, it marks a significant change that necessitates a review of your existing documents and potential updates. This transition also presents an excellent opportunity to engage in discussions with your own parents.
My parents are reluctant to relinquish control and refuse to share their documents. What is my course of action?
This situation is challenging. As long as your parents are competent, much like your young adult child, there isn’t much you can do legally. From my experience, approaching parents from a financial or historical perspective often yields better results. If the family has faced legal challenges or difficult probate situations in the past, they may be more inclined to avoid similar experiences.
Editor’s Note: Reach Colin Smith at colin@colinsmithlaw.com or call 972.773.9095. www.ColinSmithLaw.com
