Congratulations! You’re the proud parent of a college bound teenager. This is an exciting time in your life; however, it can also be a time of concern for your family. You need a plan that includes safeguards for the unexpected events in life that always seem to come at the most unwelcome times. Once this plan is in place, you can relax with the knowledge that you have a sound financial and medical back-up plan that will protect your child from the unexpected times in life that could derail his or her educational future.  There are certain standard legal documents that should be prepared by a professional estate planning attorney who is familiar with the goals you wish to accomplish for your family.

The designation of a healthcare surrogate authorizes you to get information from a hospital or a doctor about your child. You will not be able to get this information once your child is 18 years old unless you have a document giving you permission to access the information. Additionally, your child may be unconscious and unable to give permission. Florida’s HIPPA laws prevent the dissemination of medical information to others unless there are written directives authorizing the permission.

You will also want to prepare a durable power of attorney. This agreement will allow you to control your child’s financial needs. A power of attorney will allow you to handle your child’s affairs even though he or she is considered to be a legal adult. Most importantly, a durable power of attorney can be drafted to allow you to access your child’s bank account in case you need to pay your child’s bills, restrict her spending, or add to her account.

A living will is a document that a person uses to make known her desires regarding life sustaining treatments. Even though this may be an unpleasant conversation to have during this joyous time in life, it is important to complete this document. Once this agreement is prepared, you will have peace of mind with medical decisions you may have to make for your child in the event of an untimely illness or accident.  Without a living will, the law requires the hospital to keep a person alive artificially permanently.

Needless to say, sending a child to college is one of the biggest emotional and financial events of your life. However, if you plan ahead, this can be a much less stressful situation.

For more information on successful Florida estate planning and probate, please contact the South Florida law firm of Wild Felice & Pardo, P.A. at 954-944-2855 or via email at info@wfplaw.com to schedule your free consultation.

It’s a Wild world. Are you protected?