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Kids Aged 18 to 26 Are Such a Problem! (Just not in the way you may think)

| Apr 23, 2020 | Emergency Protection Plan |

by Attorney, Philip Kavesh

Once a child (or grandchild) reaches age 18, in California and many other states he or she is considered an “adult” (at least for legal purposes). However, that young adult may still depend on his or her parents for financial support or for help in making important financial and health care decisions.

Unfortunately, if a Young Adult
Suffers a Major Accident or
Becomes Seriously Ill,
What Happens Then?

Usually, lots of very bad things because the child is legally an adult and has privacy rights:

  • Parents don’t immediately know if the child has suffered a serious accident or illness. Parents don’t immediately know if the child has been rushed to a hospital, what hospital, or who to contact and how.
  • The first responder, emergency technician, attending doctor and hospital administrators don’t know critically needed information about the child’s health conditions, allergies, and medications, or who has the legal authority to make health decisions for the adult child or how to contact them –and therefore health care providers may not want to make potential lifesaving or life threatening decisions without proper legal authority, because they fear getting sued!
  • The parents and health care providers don’t have immediate access to the required health care legal documents (or even more likely, the child doesn’t even have them and the parents may face the delays and expense of going to court!).
  • And, even assuming all these health care decisions are properly taken care of, if the child continues to be disabled and unable to handle his or her own personal and financial matters, the parents can’t legally access school records, student loan accounts, credit card accounts, online banking and investment assets, as well as personal email, cloud storage, and other electronic accounts!

The Fact Is, Estate Planning
Isn’t Only For Older People

An adult child typically doesn’t require a full-blown, Living Trust centered estate plan. Instead. . .

You Should Get
Your Adult Children (or Grandchildren)
THE ADULT CHILD “EMERGENCY PROTECTION PLAN”

This plan consists of:

  • A HIPAA Authorization, allowing parents immediate access to key personal medical information in order to make health decisions
  • An Advance Health Care Directive, enabling parents to make health decisions when the child can’t.
  • A Health Document Emergency Card, which the child can carry in his or her wallet and immediately informs health care providers of his or her medical conditions, allergies and medications, as well as the names and contact info of the parents, and immediate access to the above legal documents.
  • A Durable Power of Attorney, so the parents can access important personal and financial assets and make financial decisions, pay bills, file tax returns, etc. when the child can’t.
  • A Will, should (heaven forbid) the child pass and has financial assets that need to be gathered and distributed.

(A note to the child: you can revoke these documents any time, so long as you have legal capacity to do so.)

This Adult Child
Emergency Protection Plan
Is Inexpensive, Quick and Easy to Set Up

The process simply requires one FaceTime or Zoom call with the child and the documents may thereafter be electronically sent with instructions for signing!

Plus, the legal fees are much less than with a full Living Trust estate plan and, better yet, the entire fee can later be credited 100% toward a full estate plan when the child needs one –when he or she later marries, has children, or acquires more significant financial assets.

Parent or Grandparent,
Don’t Procrastinate!

Contact Us Now!

Enjoy the peace of mind in knowing your loved ones are properly protected.

Dial 1.866.402.1805 or email us at [email protected] Say you’re interested in the Adult Child Emergency Protection Plan.

P.S. An elderly person, such as a parent, who does not have significant assets (no real estate, and all other assets are less than $150,000) should consider an Emergency Protection Plan like this, as well.

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