Angela Alvig, CPA

Sending Your Child Off to College This Fall? Here Are Some Important Tips!

Published July 20205 minute readInsights from Angela Alvig
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Sending Your Child Off to College This Fall? Here Are Some Important Tips!



If you’re like most parents who have a recent high school graduate – myself included – you’re already nervous about them leaving the nest this fall. After all, giving our children roots is much easier than giving them wings! Here are a few plans we can make this summer that will help put our minds at ease. 

 

Put all legal documents in place.  

 

Because your child is 18, you have no legal rights without the proper documentation. If your child is unable to advocate for themselves, these documents allow you to advocate for them:

 

Power of Attorney: This allows you to manage your child’s finances.

Health Care Directive: This allows you to manage your child’s health decisions.

Digital Assets Authorization: This allows you to manage your child’s social media and other online accounts.

 

Set your child up with an emergency credit card.

 

If your child ends up in an emergency situation, they will likely need access to money and probably more than they have in their bank account or wallet. Put everyone’s mind at ease with an emergency credit card. Use your credit account and add your child as a cardholder. Then set a predetermined spending limit. 

 

Set up a password manager app.

 

This allows you to share security passwords between yourself and your child without compromising sensitive information.

 

Make sure your child’s driver's license is current 

 

In the state of Minnesota, when a child turns 18, their provisional driver’s license expires. Make sure your child’s license is properly renewed. 

 

If they are going to college out of state and will be traveling by air, enroll your child in TSA PreCheck

 

This is a great way to simplify air travel for your child. By enrolling them in TSA PreCheck, your child will move more quickly through airport security and won’t have to worry about removing their shoes, laptops, liquids, belts, light jackets, etc. – every traveler’s dream!

 

Sending your child off to college is both exciting and stressful. Making plans can help ease the stress and uncertainty of the transition and allow you and your child to enjoy this time even more!

 

Do you have any other practical tips? I’d love to hear them! Feel free to share them in the comments field below.