When our children reach 18, we don’t stop being their parents. And although the relationship changes, they’re still dependent on us. How can we help them become financially responsible and thrive as young adults?

In this guide, we’ll highlight the importance of starting early and  talking often, and will provide helpful tips on being smart about credit cards, online banking and social media. Plus, we’ll share ways you can plan for the unexpected.

What parents can do

• Be an effective “coach” to your child
• Prepare your child for new responsibilities
• Take steps to stay involved in your child’s affairs

Documents to have in place

• Health care power of attorney
• Health Insurance Portability and Accountability Act (HIPAA) release form
• Advanced directive or living will

Types of contracts to talk about

• Credit card
• Apartment lease
• Automobile purchase or rental document