What is the Young Adult Protection Plan?
This package includes Financial and Healthcare Powers of Attorney, HIPAA Waiver, and FERPA Waiver for your young adult child.
What is the Young Adult Protection Plan?
We want to make it simple for you to prepare alongside your child for emergencies and protect your ability to stay actively involved in their lives.
We wanted to find a way to make the process more accessible so parents of college students can get the protection their children need. You’ll be able to relax knowing that you will always be able to take care of your child—even from afar!
Experience has shown, though, that you only need access in three specific areas! That’s totally doable and non-intrusive (but a life saver in case things go wrong). They are:
Health: This is the big one, and one we have touched on in earlier emails. And it isn’t just about emergencies. Is your child likely to transfer medical records from their hometown doc to their new medical center at school? How about handling those EOB forms that follow doctor visits? Big medical bills that go unanswered can pile up and change the course of their future, and have a very negative effect on their credit. This is definitely an area where parents should be empowered to act.
Finances: For those young adult “cash flow crunches”, from handling tuition, managing credit and debt, and making financial decisions from afar, having the power to act on your child's behalf with respect to finances is another key area. Stay tuned for ways to handle this without being overbearing.
Education: All that tuition.. where is it going? If your kid is slacking, missing class, or struggling in a certain subject, there are ways to be an active participant and supporter in their education so you can help them get the most out of their education rather than being stuck in the dark!
It’s not just about your natural desire to protect your child, these are areas where your young adult may also feel overwhelmed and need a helping hand!
