Based on the most current medical research, it appears that we will be living with the devastating effects of the COVID-19 crisis for months to come. As a result of the pandemic, many parents of adult children (any child over 18) have unfortunately discovered that they are unable to access their child’s health care records or financial resources, or make health care decisions, if their child becomes sick and cannot make these decisions on his/her own.

We are strongly recommending that you consider having each of your adult single children execute Advance Medical Directives and a Financial Powers of Attorney naming their parents and/or siblings as their agent for health care and financial issues. These documents are equally important for married children who would name their spouse as their agent. If your married children have children, they should consider having simple Wills that address guardianship for their children and provide for the financial well-being of their spouse.

In addition, Advanced Medical Directives allow your child to choose whether or not specific procedures or treatments will be utilized, such as tubes to administer hydration (fluids) or nutrition (feeding) as well as the use of ventilators. Without Advance Medical Directives, your immediate access to your child’s medical records may be delayed due to privacy requirements under the Health Insurance Portability and Accountability Act (HIPAA). Furthermore, without Advance Medical Directives, the treating medical professionals will attempt to locate a relative for guidance.  If they are  able to locate a relative, he/she will make the medical decisions. If there is time and no family member available to make these decisions, then your child’s medical professionals may ask the courts to intervene. Using Advance Medical Directives will ensure your child’s desires are fully provided for and the right person is contacted.

A Financial Powers of Attorney names the person(s) who will have access to and control of your child’s financial assets, real estate and social media accounts in the event your child is unable to make decisions regarding their finances. Without a Financial Powers of Attorney, a parent, spouse, or a sibling will not have access to your child’s financial accounts to pay for housing, insurance, and other expenses. This could result in family members paying these expenses until the child is capable of reimbursing the family. It will also allow the parent or other named person to be able to contact the insurance company regarding available benefits and file health insurance claims under such child’s policy to maximize coverage and speed the insurance reimbursement. Furthermore, without a Financial Powers of Attorney, social media platforms will not permit access or control by another individual.

While we understand this is a difficult discussion to have with your children, we believe it is critically important to face these issues in these uncertain times.

           If you have any questions, please contact us.

           Stuart H. Sorkin, Managing Member, THE BUSINESS AND LEGAL ADVISORS, LLC, 7811 Montrose Road, Suite 500, Potomac, Maryland 20816, Office 301 320 1152 Email: stuart@businessandlegaladvisors.com www.businessandlegaladvisors.com

Aligning your personal and business goals towards a successful future