5 Essential Documents for College Kids

For most families, preparing a child for college often involves gathering dorm room essentials, buying school supplies, and securing scholarships and financial aid. It's often the first stop on the road to adulthood and independence. But it's easy to overlook the fact that becoming an adult offers kids legal protection of their privacy—even from their own parents.

In case of an emergency, the loss of access to your child's educational and medical information can be formidable obstacles that could complicate a delicate situation. That's why it's essential to approach your child's departure through "what if" lens. Consider these five documents to maintain access to your child's information.

The Family Educational Rights and Privacy Act (FERPA) protects the privacy of a student's education information—but once your child turns 18 or enrolls at a postsecondary institution, parents are no longer privy to those records, including academic performance, transcripts, disciplinary action, and even financial aid information.

Although a FERPA provision does allow schools to release education information to parents without the student's consent if the child is still a dependent in the most recent tax year, that choice remains at the institution's discretion.

If you, as a parent who may also be helping to pay tuition, would like to ensure that you can monitor your child's academic progress, you and your child must file a signed FERPA waiver with the school. These waivers generally are available through the registrar's office at the university.

Similar to FERPA, the Health Insurance Portability and Accountability Act (HIPAA) aims to protect medical records: prescription history, patient information, insurance coverage. Parents lose automatic rights to their child's health information when the child reaches the age of majority, which can vary by state but generally is over age 18. So if your child seeks medical treatment or has mental health issues, for example, you will not be able to consult with their physicians or weigh in on their treatment without their permission.

It's also worth mentioning that healthcare information maintained at campus health centers generally are treated as academic records covered by FERPA. However, a HIPAA authorization is particularly helpful should your child need medical attention off campus.

While a having HIPAA authorization signed by your child can grant you access, there are few caveats:

• Make sure that you have a HIPAA authorization for the state where your child is attending college.
• Check whether the school also requires an institution-specific HIPAA authorization form.
• If your child is covered by your health insurance, confirm with your provider whether they require HIPAA forms as well.

While your college-age child may be a legal adult, they may not be ready to manage their own finances. Having a durable POA signed by your child lets you make financial decisions on their behalf, allowing you to handle their bank accounts, tax returns, and credit cards, to name a few. This also helps you take control of finances in an emergency where your child may be injured or incapacitated.

Many states have statutory POA forms available online, but it's wise to consult your attorney when establishing this document to ensure it confers the desired level of authority and satisfies state requirements.

If your child has a medical emergency while at school and is unable to make their own healthcare decisions, you may not be able to intervene on their behalf once they become an adult. A healthcare proxy resembles a POA in that regard, since it provides you with the authority to on your child's behalf in case of incapacity.

As with a POA, many states have statutory forms available online, but you may want to consult a licensed attorney in the state where your child is attending school when considering a healthcare proxy to address state-specific concerns or individual preferences and needs.

No one wants to contemplate their child's death. But as with all estate planning, preparing for worst-case scenarios can help avoid compounding a parent's nightmare with legal turmoil.

Wills and revocable living trusts determine who legally receives any assets left after someone dies. If your child has financial accounts, a car, or investments solely in their name, they should have either of these documents naming their beneficiaries. In addition, in the case of bank or investment accounts, confirm that your child maintains the beneficiary designations (payable on death or transfer on death) up to date.

All of these documents must be voluntarily signed by your adult child in order to be legally valid. So, start the conversation early and work together with your child to address their concerns. It's possible your child may view these documents as checks on their independence, which is why emphasizing their usefulness in case of an emergency can go a long way toward alleviating any misgivings.

Sending your child away to college is a major life transition. Having a plan in place with these documents can provide peace of mind—for you and your child.