DO YOU HAVE A COLLEGE STUDENT? IMPORTANT HEALTH CARE, FINANCIAL AND EDUCATIONAL DOCUMENTS THAT THEY (AND YOU) NEED:
Now that you've sent your child(ren) off to college, you and your child(ren) will need to take some simple steps to ensure that, in the event of an emergency, you will be able to make health care and financial decisions for your child(ren) and have access to your child(ren)’s medical information and financial account if your child(ren) are age 18 or older. The same is true if you are to have access to your child(ren)’s educational records. The same is true if you are to have access to your child(ren)’s educational records.
MEDICAL INFORMATION
Your child(ren) must execute a “Health Care Proxy” naming you as his or her agent for health care decisions.
Your child(ren) must also sign a ‘HIPAA Authorization Form.”
In addition, you should be in contact with the health services department of your child(ren)'s college or university.
FINANCIAL ACCOUNTS
If you are to have the ability to act on behalf of your adult child(ren) with respect to financial matters, your child(ren) also need to execute a “Durable Power of Attorney” naming you as your child(ren)'s agent with respect to the child(ren)'s assets and finances.
EDUCATIONAL RECORDS
Finally, the Family Educational Rights and Privacy Act (FERPA) protects the educational records of child(ren) who have turned 18 or are enrolled at a post-secondary institution from access by his or her parents. If the child(ren)'s parents claim the child(ren) as a dependents on their tax returns, the parents may still access the child(ren)'s education records without the child(ren)'s consent.
This document is designed for general information only. The information presented on this document should not be construed to be formal legal or tax advice nor the formation of a lawyer/client relationship.
For more information on this and other topics, please contact Kevin via any of the channels listed below: 📧kevin@kmckernan.com or 📞718-317-5007