What 85% of College Students Still Don’t Have—But Desperately Need at 18
Every summer, millions of American families prepare to send their kids off to college. The packing lists are long: laptops, dorm sheets, textbooks, health insurance. The lines are also long.
But there’s one critical item missing from almost every checklist — a simple legal document that could save lives.
By Daniel Sieberg, Cofounder of GoodTrust
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When your child turns 18, you lose the legal right to make medical or financial decisions for them. That means if they’re in an accident or face a serious health emergency on campus, you may not be able to access their health records or speak to their doctor — unless they have something like a healthcare directive or financial power of attorney in place.
And yet, according to our recent market report, only about 15% of young adults have any kind of estate planning documents. That’s despite the fact that:
There are ~20 million college students in the U.S.
Each year, nearly 4 million students become legal adults overnight.
Parents continue to be deeply involved in their children’s lives, financially and emotionally — just without the legal authority to help when it may matter most.
This isn’t just a policy gap — it’s a parenting gap. And it’s one we can close with smart, digital tools that meet students and families where they are.
At GoodTrust, we believe estate planning isn’t just for later in life — it’s part of preparing for adulthood, just like signing a lease or getting health insurance. Our service helps families set up and store critical documents like:
Advance healthcare directives.
Durable powers of attorney.
Financial aid files, car insurance, travel documents.
All shareable in one secure place, your Digital Vault.
This isn't fear-mongering — it's future-proofing. It’s giving peace of mind to students, and empowerment to parents.
Universities, insurance providers, and student organizations have a major opportunity to treat this as part of a more holistic approach to student well-being. Imagine if, alongside student health insurance enrollment, there was an option to create a healthcare proxy. Or if parent orientation included a session about “adulting essentials” with estate planning front and center.
We’re already seeing some forward-thinking institutions begin to embrace this shift. But there’s so much more to do — and an entire generation of students who can benefit.
Let’s make this part of the college checklist in 2025 — not an afterthought.
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