When your child turns 18 - what every parent should know.

The end of this past school year marked another significant milestone in my home. Like many parents celebrating their child's high school graduation, I find myself reflecting on how fast time flies — one moment, you're packing a lunchbox, the next, you're framing a cap-and-gown photo. 

It's an emotional milestone but also a legal one: graduating from high school and turning 18 marks the official start of adulthood. As both a mom and a wealth advisor, I've seen how often this transition sneaks up on families. Today, I want to share a few essential things parents should consider once their child becomes a legal adult. 

Legal & Financial To-Dos When Your Child Turns 18 

1. Healthcare Power of Attorney 

Once your child turns 18, you no longer have automatic access to their medical records or decision-making authority in an emergency. A healthcare power of attorney ensures you can step in if your adult child is hospitalized or unable to make decisions for himself. 

2. Durable Power of Attorney (Financial) 

This allows you to handle financial or legal matters on your child's behalf, such as managing bank accounts, signing leases, or dealing with school financial aid while they are away at school. 

3. FERPA Waiver 

For college-bound kids, the Family Educational Rights and Privacy Act (FERPA) restricts access to academic records. Signing a FERPA waiver allows parents to speak with the academic counselor or view grades if needed. 

4. Start Smart Financial Habits Early 

Now is the time to have conversations about budgeting, saving, and using credit responsibly. As a young adult, understanding the importance of healthy spending and savings habits can lay the foundation for long-term financial success. 

Why These Steps Matter 

It's easy to overlook these details when you're planning graduation parties or shopping for dorm essentials. However, these documents ensure that you can support your child, not just emotionally but also logistically, as they transition into adulthood. 

If you have a graduate in your life or a child turning 18 soon, this is a great time to put these protections in place. Please reach out to a licensed attorney or financial advisor for more guidance.