Turning 18, graduating high school, and moving on to college or the workforce are huge milestones.

 

These life events bring some serious "adulting" responsibilities that probably are not at the forefront of their (or your) mind.

 

Once your children become legal adults, many decisions formerly under your control are now solely up to them.

 

Here are the big ones: without express permission, you can no longer have access to their financial accounts or the power to make any of their healthcare decisions.

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You work hard to raise and protect your children and provide them with love and care. So before you send them out into the world, you must take steps to help them set up a Durable Financial Power of Attorney, a Medical Power of Attorney, an Advance Health Care Directive (often called a "Living Will"), and HIPAA authorizations. These powerful documents provide them with important protections if something unfortunate changes their lives, whether temporarily or permanently.

 

Taking these steps ensures that if they ever needed you or someone they know and trust to make medical or financial decisions on their behalf, there will be legal authority to do so.