Empowered at 18: Balancing Autonomy and Support in Adulthood

The Red Wagon Estate Planning & Elder Law Show

Congratulations! You just turned 18. You are an adult now, well, legally speaking. Your parents can no longer gain access to your financial information or make medical decisions for you. But before you celebrate your newfound independence, here is something to consider. What if you need help?

When you turn 18, it’s important that you authorize someone—most likely your parents—to stand in for you and make decisions on your behalf if you are unable to do so for yourself. The smart thing is to get a financial power of attorney and a health care power of attorney with an advanced health care directive.

Taking this step will ensure that your parents (or other trusted individuals) will be able to help with important matters, if needed, while still respecting your wishes and autonomy as an adult.

What You Need to Know

(00:49) You’re 18. The law presumes that you now are of the age of majority, which means you have the legal capacity to sign contracts, vote, join the military, and get married.

(02:17) Once you’re 18, set up a financial power of attorney (POA) to authorize someone to help with financial decisions and management or act as a liaison—pay bills, contact the bank, check on financial situations, etc.

(03:30) The same recommendation applies to your health care. Get a health care POA with HIPAA language to enable a trusted individual can make decisions for medical care if you are not able to make those decisions for yourself.

(09:46) The unnecessary expense, delays, and emotional toll of seeking guardianship can be avoided by having a financial POA and a medical POA.

(11:20) A living will, also known as an advanced health care directive, can be included in your medical POA. This will enable you to decide ahead of time how you want to be treated if a decision is needed about end-stage medical care (i.e., when there is no realistic hope for recovery).

(21:45) Everyone over 18 should have financial and medical POAs in place. Be very careful about using online do-it-yourself documents. Every state has specific rules and notaries are often required.

About Bellomo & Associates

Jeffrey R. Bellomo, the founder of Bellomo & Associates, is a licensed and certified elder law attorney with a master’s degree in taxation and a certificate in estate planning. He explains complex legal and financial topics in easy-to-understand language.

Bellomo & Associates is committed to providing education so that what happened to the Bellomo family doesn’t happen to your family. We conduct free workshops on estate planning, crisis planning, Medicaid planning, special needs planning, probate administration, and trust administration. Visit our website (https://bellomoassociates.com/) to learn more.

LINKS AND RESOURCES MENTIONED

Bellomo & Associates workshops:https://bellomoassociates.com/workshops/

• Life Care Planning
• The Three Secrets of Estate Planning
• Nuts & Bolts of Medicaid

For more information, call us at [phone].

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WAYS TO WORK WITH JEFFREY BELLOMO

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