When your children turn 18, they are considered legal adults. Parents no longer have legal access to their financial accounts or medical records. It is important that your 18-year-old execute the following documents to ensure that you as parents can access this information or take action for them if they are incapacitated or out of the country.  A Statutory Power of Attorney will allow the parents to access their financial accounts, renew their car registration or file their taxes.  A Medical Power of Attorney with HIPAA Authorization will allow a hospital or doctor to share medical information with the parent and allow the parent to make medical decisions if the child is incapacitated.