We got a question on our Northwest Legal Planning Facebook page the other day about Young Adult Estate Planning. The question was fantastic, in fact, I put up a web page for our Oregon Young Adult Estate Planning service.
When you turn 18 you get a bunch of rights, including the right to contract for liabilities. Many of the right you get involve rights to privacy. Estate Planning will help with the problems that your medical privacy can cause.
Under Oregon law, medical providers are not allowed to share your medical information unless there are special circumstances. Even when those special circumstances are met, your medical providers are not required to share your information. In the event that you were in the hospital and unable to communicate, there is no way for your family to get information about your condition if your doctors don’t want to share. The solution to this is having a properly executed HIPAA Authorization naming the people you want your medical information shared with.
Another important Estate Planning document for medical issues the Advance Directive. You may know this document as a living will. In an Advance Directive, you can specify what medical treatments you want and which ones you don’t want. You can also appoint a Healthcare Agent to make other decisions about the treatment you will receive.
Outside of the medical issues is your financial world. You will want a Durable Power of Attorney naming an agent to act on your behalf. In the event you are unable to pay your bills, balance your checkbook or do some other everyday task, your agent can step in and make sure things are taken care of.
Finally, almost every over 18 should have a Will. This is especially true for those of you with minor children. A Will is where you will name guardians for your children in the event you should pass away.
If you’d like to learn more about Oregon Young Adult Estate Planning, pick up the phone and call me at 503-850-8345.