Millennial Protection Plan
We are fairly certain the last thing your 18-year-old is thinking about is an estate plan. And you are probably not thinking about one for them either, but you should be. Here’s why: once your child turns 18, you are no longer entitled to know about their medical records or make decisions about their medical treatment.
Can you imagine your child needing medical treatment in some college town and you are not able to help in any way without a court saying you can? It can, and does, happen.
Kira Doyle Law is now offering a Millennial Protection Plan (MPP) for undergraduate students with minimal assets. The MPP includes a Designation of Health Care Surrogate, a Durable Power of Attorney, and a Simple Will. The Health Care Surrogate will allow your child to designate you as their surrogate, allowing you to have access to medical records and to make health care decisions on their behalf, in the event they are not able to act for themselves. A carefully written Durable Power of Attorney will allow your child to name someone they trust to serve as their Agent and to deal with matters affecting your property, real or personal, as they so designate. Basically, their Agent is given the power to act on their behalf, as if they were present and acting, with respect to their property. Numerous types of transactions are spelled out in the Durable Power of Attorney document to eliminate any question as to the broad scope of their Agent’s authority. The Durable Power of Attorney will give the agent the right to oversee their finances in case of their incapacitation.
Hopefully you will never need to exercise these three documents, but encouraging your children to execute these documents will give you both peace of mind. Contact our office before your child heads off to college this fall, and we will give you a $100 discount on your Millennial Protection Plan!