Estate planning is essential for adults of any age, including new college students. For parents of new college students, this stage often brings growing independence as students move into a new dorm room or apartment, while parents and family continue supporting them as they explore new opportunities such as study abroad programs or travel with student groups. There are key documents and important information that parents of new college students should have in place in case an emergency arises.
Legally an Adult. Did you consider that once your child reaches age 18, you may no longer automatically make important medical or financial decisions on your child’s behalf? Under Texas law, a person is legally an adult upon reaching age 18, and doctors and hospitals must respect privacy laws restricting information about that person’s medical care. Likewise, banks and financial institutions must also keep financial information private. Learn more for new college students.
Durable Power of Attorney (or “Financial Power of Attorney”). A durable power of attorney is a legal document that appoints an agent to handle financial affairs. For parents of new college students, even though college students may not have many valuable financial assets, there are still unanticipated financial and personal problems that could arise. Consider what would happen if your child was studying or traveling abroad and had difficulty with his or her bank account, tuition financing, scholarships, housing registration, or another unexpected financial issue. A durable power of attorney can enable parents of new college students to work through such situations on the child’s behalf.
The power gives the agent (the parent) the authority to do anything that the child could do, such as pay bills, settle debts, sell property, or handle any other financial matter that needs to be done on the child’s behalf. This would also be particularly important in the event the child became incapacitated, since it helps to avoid the expense of a court-appointed guardian to handle financial matters for the incapacitated child. Learn more for Best Estate Planning Attorneys in Texas (2026).
Medical Power of Attorney. This document is just as critical as a financial power of attorney. If an unlikely accident or illness occurred, this power will authorize the parent to make health care treatment decisions for the student if the student is unable to do so.
HIPAA Release. While the medical power would allow the parent to make medical decisions, it is also necessary to have a HIPAA Release signed by the student to grant the parent access to medical information that would otherwise remain protected by privacy laws.
Digital Accounts. In addition, it is important for a parent to know what the student’s assets are and how to access them. A power of attorney can be drafted to provide authority for the agent to access digital accounts, but that authority will not be as effective if it requires the agent to track down accounts or passwords.
Ideally, these documents will never need to be used during the college years, but it’s best to have them in place in case something does happen. When an emergency arises, the last thing a parent needs is the added burden of gaining permission to make important decisions. Tarleton Law Firm can help ensure these documents are properly prepared and legally effective.
Have you recently had a child head to college? Estate planning is probably not on your college student’s mind, but it will provide important peace of mind for you as your child comes home for the holidays and heads back to school. To learn more about estate planning, please visit our website at www.tarletonfirm.com or call us at (214) 935-9004. Although we are located in Dallas, we serve clients all over Texas.
