College is an incredibly stressful time…both for the college bound student and their parents. It is a time for celebration and sadness all rolled into a short time. While everyone is excited, there are also lots of tears and trepidations from both the student and parents.
And then there is the hustle and bustle that takes place weeks before your child is ready to leave…whether they are going cross country or just to the next town. Lots of preparation and certainly something is going to get missed or forgotten. One thing that absolutely shouldn’t be overlooked are some very key (critical actually) legal documents. Having these documents in place before your child leaves for college may be one of the most important things you can do for them before their departure.
While there are still lots of issues and questions, such as, will they make the right decisions, choose good friends and perform well in their studies? One thing you can do to help prepare your college-bound student, is to have certain legal documents prepared before they go, advises getintocollege.com in the article “Legal Documents Your Child Needs to Sign Before Heading to College.”
Let’s start off with medical…this is possibly the most important area to make sure you have covered if your child gets sick or hurt. Once your child turns 18, your access to their medical records ends…unless they complete a form called a HIPAA Authorization. Your child must sign the form to give you access to their records, appointments, test results, etc. If your child is going to a school out of state, you may need a state-specific form. Keep these documents in a safe place where they can be easily accessed quickly in case of an emergency.
Next let’s talk money…chances are your student is heading off to college with a debit card and a credit card. Do you have access to those accounts? Talk with your estate planning attorney about creating a Financial Power of Attorney form so you don’t run into any roadblocks if your child needs help handling their finances. Opening a bank account or having a credit card attached to your account makes it easier for you to transfer money to your student. It also makes it easier for you to keep a watchful eye on their spending. Make a copy of the front and back of all cards so you can easily report them if lost or stolen.
Finally, let’s talk about grades…colleges have a form known as FERPA (Family Educational Rights and Privacy Act) which you usually get at some point during college orientation. This document gives you the legal right to your child’s academic and financial information through the college. Think of this as the college’s HIPAA law. It’s not exactly the same, but it can create the same level of obstruction if you do not address it in advance. Once it is in place, you’ll be able to discuss your child’s finances with the bursar’s office, find out about their grades with an academic advisor, and have access to many other offices in the college that will otherwise refuse to speak with you without this form.
While college is a transition time for both students and parents (as well grandparents) it doesn’t have to have a lot of obstacles in the way. Putting these documents in place with the help of an estate planning attorney will give you some peace of mind as your child leaves the nest. Once they are in place you can spend your time helping and supporting your child through the transition and not be encumbered by all the legal issues that can get in your way.