TRUST & ESTATE PERSPECTIVES

College prep for parents: A quick checklist for the legal paperwork you and your student will need this fall

The pomp, circumstance, and parties for your graduate are over. Time for a well-deserved summer break before you’re back at it again, packing up your college-bound freshman for the fall semester.

But before you head out to the lake house or beachside cottage – or take your final family vacation -- now is the perfect time to start gathering the legal documents you and your student will need this fall.

This is particularly important if your child is age 18 or older which is the “age of majority” in most states1. After this key birthday, you may no longer have access to your child’s medical or financial information unless you have explicit permission.

The checklist below lists the documents that give you that permission. Having them in place is essential to ensure your ability to assist in your child’s ongoing welfare as they enter this new phase of their lives.

College Checklist

For help with creating the legal documents you and your student will need this fall, contact your advisor.

For additional tips on preparing your college-bound student to manage money wisely, read Money Management 101 for Students and Parents

The views expressed in the article are those of the author and/or person interviewed and do not necessarily reflect the views of SVB Private or other members of Silicon Valley Bank Financial Group. The materials on this website are for informational purposes only, are subject to change and do not take into account your particular investment objective, financial situation or need. Since each client’s situation is unique, you should consult your financial advisor and/or tax planning professional before acting on any information provided herein