Important Information for College-Bound Children

A close-up of a college application form with a pen resting on it. The form has sections for personal information. The word COLLEGE is prominently displayed at the top.

07/12/2019

This is an exciting time for parents with children headed off to their first year of college. Over the past 18 months or so, you have been planning for this transition, and it may be hard to believe that freshman orientation will be starting soon. Hopefully you have had time to have a meaningful conversation with your son or daughter about what it means to be 18 years old and living away from home for the first time.

In the midst of all the change, many parents and young adults preparing for college may not be aware of how their changing legal status will impact them in a variety of ways. For that reason, we encourage parents who have college-bound children to think about estate planning for their young adults. Estate planning for this age group is easy to overlook, however, having certain documentation in place is highly recommended.

Specifically, we recommend that all parents living in Georgia who have children over the age of 18 should ask their children to sign the Georgia Advance Directive for Health Care form. This statutory form enables a child to name a parent or another trusted individual as a health care agent, and it authorizes health care providers to share medical information with the named agent.

Why this is important: Once children reach the age of majority (which is 18 in Georgia and most other states), they are legally considered adults. As adults, privacy laws generally protect their medical information. We hope you don’t ever need to use it, but in the unfortunate scenario where a child experiences a medical emergency, this document helps avoid any challenges in obtaining information about your child’s medical condition or making decisions on his or her behalf. Additional information, including the form itself and some helpful instructions can be found here: https://aging.georgia.gov/.

Once completed, you should give a copy of this form to people who might need it, such as your health care agent, your family, and your physician. Keep a copy of this completed form at home in a place where it can easily be found if it is needed. Many clients also ask their HB client service team to keep a copy in our files.

If you have children who live in other states, we recommend signing both the Georgia form and the appropriate form for the other state. If you sign more than one form, please be sure to name the same health care agent and backup agent on both. You can find links to forms from other states at this website: https://www.nhpco.org/patients-and-caregivers/advance-care-planning/advance-directives/downloading-your-states-advance-directive/ 

HB Wealth is a national independent wealth management firm providing fiduciary, fee-only wealth advisory services, investment management, and family office services, with a mission of bringing unwavering financial peace of mind to the clients we are privileged to serve. 

Related Insights & News

White text reading HB Wealth on a solid dark blue background.

Homrich Berg Unveils HB Wealth as New Name, Aligning Under Unified Brand

$25B RIA’s rebranding reflects national scale and client-centered focus ATLANTA, GA — August 19, 2025…

Read More

Text graphic with four black brushstroke squares, each containing different business types: Sole Proprietorships, Partnerships, LLC, and Corporations.

Evaluating Business Structures: The Pros And Cons

Family businesses often start small with simple business and tax structures. However, as businesses expand,…

Read More

Image featuring a financial theme. Text reads, Interest rates are still a key driver of stock market returns. Includes a circular photo of a smiling man labeled Ross Bramwell, CFA, Principal above the Homrich Berg Wealth Management logo.

Interest Rates Are Still a Key Driver Of Stock Market Returns

The Federal Reserve once again kept its key rate unchanged at its June 12th meeting….

Read More

A field of white daisies against a blue sky, with a hiker in the background holding trekking poles, blurred by depth of field.

Spring Towards Your Financial Goals

Spring is my favorite time of the year. The gloom and cold of winter rains…

Read More

The above is not a recommendation to purchase or sell a particular security and is not legal, investment or tax advice. Results are not guaranteed. All investing involves risk.

Past performance is not a guarantee of future results for any investment. Private alternative investments are not for every client. An individual must be qualified to invest in a private investment based on their net worth and/or other criteria, and they may qualify to invest in some alternative investments while not being allowed to invest in other alternative investments. Alternative investments are not risk-free and there is no guarantee of achieving attractive performance compared to similar liquid investments. Risks associated with investments in private alternatives include the illiquid nature of such investments, risks associated with leveraged investments, manager-specific risks, sector-specific risks, and in certain cases geographical risk, as well as the risk of loss of principal.