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When children turn 18: What now?

When our children reach 18, we don’t stop being their parents. And although the relationship changes, they’re still dependent on us. How can we help them become financially responsible and thrive as young adults?

In this guide, we’ll highlight the importance of starting early and talking often. We’ll share a story about a family who wasn’t quite prepared for issues that came up while the child was away at college. We’ll offer helpful tips on being smart about credit cards, online banking and social media. And we’ll share ways you can plan for the unexpected.

What parents can do

  • Be an effective “coach” to your child
  • Prepare your child for new responsibilities
  • Take steps to stay involved in your child’s affairs


Documents to have in place

  • Health care power of attorney
  • Health Insurance Portability and Accountability Act (HIPAA) release form
  • Advanced directive or living will


Types of contracts to talk about

  • Credit card
  • Apartment lease
  • Automobile purchase or rental document

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