3 Legal Documents Every Graduating Senior Needs to Ensure Parents Can Make Important Medical and Financial Decisions on Their Child’s Behalf
As a legal adult, privacy laws can prevent parents from making medical and financial decisions on their child’s behalf. For that reason, parents of graduating seniors are urged to help their child prepare HIPAA forms, a Power of Attorney, and an Advance Health Care Directive to ensure they are consulted should their child become incapacitated or unable to speak for themselves.
St. Louis – As graduating seniors prepare to travel abroad or leave for college, parents are urged to help their children prepare HIPAA forms, a Power of Attorney, and an Advance Health Care Directive to ensure they are consulted and actively involved in their child’s care should they become incapacitated in an accident or unable to speak for themselves.
Under current privacy laws, parents may be barred from making financial and life-saving decisions on their child’s behalf without such documentation in place. Parents may further find themselves unable to obtain medical records without a signed HIPAA form.
Getting Real About Long-Term Care for The Boomer Generation
While no one likes to think about it, planning for nursing home care is now a reality for the boomer generation. St. Louis elder law attorney Stephen Jones reveals how seniors can age with dignity and secure the care they desire should a health care crisis strike.
St. Louis – May 13-19 is National Skilled Nursing Care Week. As the 78 million baby boomers born between 1946 and 1964 in the United States enter their retirement years, planning ahead for long-term care has become a matter of urgency for an otherwise strong-willed and independent generation.
“Baby boomers have their heads in the sand about long-term care,” says Stephen Jones, an elder law attorney in the St. Louis area. “After bootstrapping their way to financial independence, the thought of losing their mental or physical abilities and having to rely on someone for help is simply unimaginable to them,” he adds.
Unfortunately, Jones says that failing to plan ahead can lead to even more unimaginable situations in the future.
New Laws Help Kids and Young Adults with Special Needs Save Money for the Future
April is Autism Awareness Month, which highlights the challenges faced by people with Autism Spectrum Disorders and related special needs.
One major, yet overlooked challenge faced by families who have loved ones with special needs is financial. The US Department of Agriculture estimates that the cost of raising a child nearly quadruples when he or she has a disability.
Recent laws passed by Congress are seeking to make it easier for families to save toward future care costs without jeopardizing eligibility for key benefits such as Medicaid or SSI. This includes changes to the tax laws in 2018 that offer more opportunities to accumulate tax-free savings.