In the News: Shannon Stevens Discusses Why Turning 18 Is an Important Legal Milestone in Reuters
Shannon Stevens, Estate Attorney and Managing Director at Hightower Signature Wealth, was recently interviewed by Reuters about an important milestone that many families overlook: a child turning 18. While turning 18 is often associated with greater independence, Shannon explained that it also brings significant legal changes. Once someone reaches adulthood, parents generally no longer have automatic authority to access medical information or make healthcare and financial decisions on their behalf.
Key Documents to Consider
During the interview, Shannon discussed five common estate planning documents that young adults may want to have in place:
- Durable Power of Attorney for financial matters
- Healthcare Power of Attorney for medical decisions
- HIPAA Authorization for access to medical information
- Living Will for end-of-life preferences
- Last Will and Testament for the distribution of assets
Shannon noted that individual circumstances may vary. Factors such as inherited assets, trusts, or business ownership can affect the type of planning that may be appropriate.
Estate Planning Is Not Limited to High-Net-Worth Individuals
A common misconception is that estate planning is only necessary for people with substantial wealth. Shannon explained that many young adults already own assets, including bank accounts, vehicles, investment accounts, cryptocurrency, or interests in a small business.
Without legal documents in place, state law may determine how assets are handled if an individual becomes incapacitated or passes away.
Planning for Unexpected Events
The interview also highlighted situations where families may experience challenges when legal documents are not in place. Accidents, illnesses, and other unexpected events can create difficult circumstances if an adult child is unable to make decisions and family members do not have the authority to act.
Having documents completed in advance may help clarify decision-making responsibilities during those situations.
Estate Planning and Financial Planning Work Together
Shannon emphasized that estate planning and financial planning should be reviewed together. Major life events such as graduating from college, getting married, getting divorced, or receiving an inheritance are appropriate times to revisit both.
She also encouraged families to make estate planning part of their regular financial review process.
Starting the Conversation
Discussing incapacity or death can be uncomfortable, particularly with young adults. However, Shannon noted that preparing important legal documents is one of the responsibilities that comes with adulthood.
By addressing these topics early, families can better understand their options and document their wishes before a need arises.
To read the full Reuters interview with Shannon Stevens and learn more about the legal and financial considerations that come with turning 18, click HERE.
Source: Reuters interview with Shannon Stevens, Estate Attorney and Managing Director at Hightower Signature Wealth, published July 15, 2026. Interview conducted by Lauren Young.
This material is for general information and educational purposes only. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions.
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