Yes, every Kansan 18 years and older should have an estate plan
What estate planning documents does a young adult need?
A majority of 18 year-olds will only need some basic estate planning documents. These documents will focus on the what ifs: what if the young adult is in a vehicle accident and incapacitated, what if they are studying abroad or serving in the military, what if they need a parent to access their medical records, what if they need someone to access their bank account; what if they need someone to deal with their landlord; and not so much with transferring property.
General Durable Power of Attorney
A general durable Power of Attorney allows the named attorney in fact to handle almost all financial and property matters. The document remains in effect even after the young adult becomes disabled or incapacitated. So this document will allow the attorney in fact to help with finances, property, and legal matters at the time it is needed most – when a person is unable to make those decisions on their own.
The financial Power of Attorney can allow a parent, if they are the named attorney in fact, to deal with government agencies, financial institutions, negotiating contracts or leases on behalf of their child. These actions might be needed to help out the young adult as they adjust to adulthood, living out of state or studying abroad, serving in the military, or recovering from an illness or accident.
If the young adult is incapacitated, such as in a coma, and does not have a general durable power of attorney, someone will need to file a conservatorship case with the court requesting the powers to take care of these issues.
Medical Power of Attorney
Also known as an advance healthcare directive, a medical Power of Attorney allows the young adult to name someone who can make their healthcare decisions if they are unable to make those decisions on their own. The attorney in fact can confer with medical staff and authorize medical treatment. This document will allow the attorney in fact to be included in discussions and involved in decisions if the young adult is not able to make those decisions or needs assistance scheduling appointments or speaking with doctor offices.
If this document is not included in the estate plan and the person is unable to make their own medical decisions, then someone will need to file a guardianship case with the court requesting the powers to make these decisions.
HIPPA Release
Allows the person named to receive medical records/information from medical providers. Many times this document is signed directly with a provider’s office. It is a good idea though, to have a general HIPPA release in case needed with another provider.
Living Will
Allows a person to put their end of life decisions into writing so there is no confusion as to what their wishes are. This can bring certainty at a difficult time for loved ones. This is a good time to discuss quality of life, life support, and their thoughts on what they would want in those situations.
If there is no Living Will, then these difficult decisions will fall to family and if family members are in disagreement the decision could involve hospital committees and/or a court decision by a judge.