High school graduation is an exciting milestone—a time of celebration, transition, and new beginnings. As families prepare their graduates for college, travel, or entering the workforce, one critical topic is often overlooked: estate planning. While young adults may not have substantial assets, they do have legal and medical rights that need protection.
Why Estate Planning Matters for Young Adults
Once a child turns 18, parents no longer have automatic access to their medical records, financial accounts, or decision-making authority in an emergency. Without proper documents in place, parents may face unnecessary legal obstacles if their young adult needs help in a crisis. Estate planning ensures that young adults have a voice in their financial and medical decisions while also allowing trusted family members to step in when needed.
Key Estate Planning Documents for Young Adults
- Healthcare Power of Attorney (HPOA)
A Healthcare Power of Attorney allows a young adult to designate someone—usually a parent or trusted relative—to make medical decisions on their behalf if they become incapacitated. - HIPAA Authorization
The Health Insurance Portability and Accountability Act (HIPAA) restricts access to medical information. A signed HIPAA authorization ensures that designated individuals can receive medical updates and communicate with healthcare providers. - Durable Power of Attorney (DPOA)
A Durable Power of Attorney allows a chosen individual to handle financial matters such as paying bills, managing bank accounts, and signing important documents if the young adult is unable to do so. - Basic Will
While most young adults do not have significant assets, a simple will can outline how any personal belongings, digital assets, or financial accounts should be handled in the event of an untimely passing. - Digital Assets Plan
Social media accounts, email, and digital subscriptions are part of everyday life. A digital assets plan specifies how these accounts should be handled and provides access to trusted individuals.
The Peace of Mind Estate Planning Brings
Having these essential documents in place provides peace of mind for both young adults and their families. It ensures that, in an emergency, parents can provide support without unnecessary delays or legal hurdles. Estate planning is not just for the wealthy or elderly—it is an important step toward responsibility and independence.
How to Get Started
The best way to put these protections in place is by consulting with an estate planning attorney who can tailor the documents to your family’s needs. As high school graduation approaches, consider making estate planning a part of the transition to adulthood.
By taking these proactive steps, families can ensure that their young adults are prepared for life’s uncertainties while stepping confidently into their future.
