Preparing to send your child off to college

Scott Coopersmith |

College Bound? Don’t Overlook These Critical things to do

By Scott Coopersmith, CLU®, CDFA®

Sending a child off to college is an emotional experience—for both you and them. Between packing, shopping, and managing the emotions of this big milestone, it’s easy to focus on the obvious to-do list: bedding, snacks, supplies. But there’s another list—the less visible one—that might be just as important.

Once your child turns 18, they are considered a legal adult. This change impacts what you, as a parent, can access or assist with. From medical emergencies to academic records and managing money, this transition affects more than just where they sleep. Here are a few smart conversations to have before moving into the dorm. These steps can help protect your child—and reduce your stress.

1. Legal Docs: Can You Step In If Needed?

Once your child turns 18, you no longer have automatic rights to their medical, academic, or financial information. That means you could be blocked from helping in an emergency—unless they’ve signed the right documents.

Here’s what to consider:

  • Healthcare Proxy / Medical POA: Let’s you make healthcare decisions if your child can’t.
  • HIPAA Release: Provides you with access to medical information—especially useful in emergencies.
  • Financial POA: Allows you to help with bank accounts, tuition payments, or money management.
  • FERPA Authorization: After age 18, you can’t access your child’s grades or academic records unless they sign this form. FERPA is the Family Educational Rights and Privacy Act.
  • Every college handles this a little differently, so please check with the school for specific details.

Also, ensure that your child’s emergency contact information is up to date and accurate with the school—this small step is often overlooked.

2. Talk About Money (Even if it’s Awkward)

College is often the first time your child will be fully managing their own money. Even if they’ve always been responsible, things look different in a dorm room.

Now’s the time to talk through:

  • Who pays for what (books, food delivery, rideshares, etc.)
  • How to track spending (apps like Mint, mobile banking alerts, etc.)
  • Using payment apps (Venmo, Zelle, Apple Cash—great tools, but not risk-free)
  • Credit Basics (Should They Have a Card? What’s the Plan for Using It Responsibly?)

If you haven’t talked about these topics lately, don’t assume they've already been understood. A quick check-in now can help prevent issues later.

3. Insurance: Are They Still Covered?

Insurance often gets missed in the college shuffle—but it matters.
Health Insurance: Most students can stay on a parent’s plan until age 26 but verify if your plan covers where they’re going. If not, consider the school’s health plan. Many automatically enroll students unless you opt out—double-check.
Car Insurance: If your child will be driving a car to school, please notify your insurance company. If they’re not, you may qualify for a “student away” discount.
Renters Insurance: If they’re living off-campus, your homeowners policy might not cover their belongings. A separate renter’s policy may be necessary.

A Smart Step Toward Adulthood

Having these conversations doesn’t mean hovering or micromanaging. It means preparing your child—and yourself—for the unexpected. You’re not trying to control their independence. You’re simply setting up a support system that works, just in case.

And you don’t have to figure this all out alone.

As financial professionals, we’re here to help with real-life planning that accompanies significant life transitions. We can collaborate with your attorney to make sure everything is in order and help both of you feel confident about this next chapter together.