5 Things Parents of College Students Should Add to Their Estate Plan

Remember when your biggest worry was whether your kid would remember to call you once a week? Now you’re sending them off to college, and suddenly you’re realizing they’re not really “your kid” anymore—at least not in the eyes of the law. 

Here’s something that catches most parents off guard: the moment your child turns 18, you lose a lot of your legal rights to help them, even in emergencies. That phone call you’re dreading—the one from the hospital or the dean’s office—just got a lot more complicated. 

But here’s the good news: with a little planning now, you can avoid a lot of panic later. While you’re busy shopping for extra-long twin sheets and arguing about how much spending money is “enough,” take a moment to think about these five legal documents that could save your family a world of trouble. 

1. Healthcare Power of Attorney (Because Accidents Happen) 

Picture this: your daughter calls you, crying, from the emergency room after a car accident. You rush to the hospital, only to be told you can’t access her medical records or talk to her doctors because she’s unconscious and you’re “not authorized.” 

Sounds like a nightmare, right? Unfortunately, it happens more often than you’d think. 

A Healthcare Power of Attorney is basically a legal document that says, “Yes, my parents can make medical decisions for me if I can’t.” It’s that simple, but it’s also that important. 

While you’re at it, get a HIPAA Release Form too. This lets doctors and nurses actually talk to you about your child’s condition without worrying about breaking federal privacy laws. Trust me, you don’t want to be fighting bureaucracy while your kid is in the hospital. 

2. Financial Power of Attorney (For When Life Gets Complicated) 

Let’s say your son is studying abroad in Spain and his debit card gets stolen. Or maybe your daughter gets mono and misses so much school that she needs help managing her student loans and rent payments while she recovers. 

A Durable Power of Attorney for finances lets you step in and handle these situations without having to jump through legal hoops. You can: 

• Access their bank accounts to pay bills 

• Deal with student loan companies on their behalf 

• Handle apartment leases or tuition payments 

• Manage their digital subscriptions (because somehow they always forget to cancel those) 

This isn’t about controlling their money—it’s about being able to help when they need it most. 

3. Update Your Own Will (Because Your Family Has Changed) 

Your 18-year-old might not have much to put in a will yet, but yours? That’s a different story. 

Now that you have an adult child, you need to think about things like: 

• What happens to your younger kids if something happens to you? 

• How do you want to handle college funds or inheritance? 

• Should your college student be named as a backup guardian for their younger siblings? 

It’s also worth having a conversation with your college-aged child about their own simple will. They might not have much now, but they probably have a laptop, a car, maybe some savings, and definitely strong opinions about who should get what. Plus, it’s never too early to start thinking responsibly about these things. 

4. Consider a Trust (For the Long Game) 

Here’s where things get interesting. Maybe you want to help your child with college expenses, but you also want to make sure the money is actually used for college (and not for a spring break trip to Cancun). 

A trust can be a game-changer here. Think of it as a financial safety net with built-in guardrails. You can: 

• Set aside money specifically for education, housing, or post-graduation support 

• Protect those funds from creditors or bad financial decisions 

• Create rules about how and when the money can be used 

• Appoint someone you trust to oversee distributions 

It’s not about not trusting your kid—it’s about setting them up for success and protecting the investment you’re making in their future. 

5. Get Your Beneficiaries Straight (And Plan for the What-Ifs) 

When was the last time you looked at who’s named as the beneficiary on your life insurance, retirement accounts, or investment portfolios? If your kid was 12 when you set those up, it might be time for an update. 

But don’t stop there. Think about the backup plans too: 

• Who takes care of your younger children if both you and your spouse can’t? 

• Who’s the backup person for all those powers of attorney? 

• Do the schools and doctors have current emergency contact information? 

These might seem like details, but they’re the details that matter when everything else is falling apart. 

The Real Talk About Why This Matters 

Look, nobody wants to think about worst-case scenarios when they’re sending their kid off to college. You want to focus on the excitement, the opportunities, the pride you feel watching them grow up. 

But here’s the thing: good parents plan ahead. They don’t just hope for the best—they prepare for whatever comes next. 

These documents aren’t about being morbid or pessimistic. They’re about love. They’re about making sure that no matter what happens, you can be there for your child in the way they need you to be. 

We Make This Easier Than You Think 

If you’re already overwhelmed with college prep, and the last thing you want is to navigate complicated legal jargon and endless paperwork. 

That’s exactly why we’ve streamlined this process. We know which documents your family actually needs (not just what’s theoretically possible), and we explain everything in plain English. No legal speak, no confusion—just clear guidance that helps you protect the people you love most. 

Ready to get this done? Contact Gravis Law today. Let’s create an estate plan that gives you peace of mind, so you can focus on what really matters: cheering your child on as they start this incredible new chapter.