Powers of Attorney for An Adult Child

As summer winds down and the excitement of heading off to college ramps up, there’s an often-overlooked yet crucial aspect parents should consider: obtaining a Power of Attorney (POA) for their adult child. This legal document ensures that parents can act on behalf of their child in important matters if they’re unable to do so themselves. Here’s why securing a Power of Attorney before college is essential.

Understanding Power of Attorney

A Power of Attorney is a legal document that grants one person (the agent) the authority to make decisions and act on behalf of another person (the principal). For adult children, this means that parents can step in to handle financial, medical, and legal matters if their child is incapacitated or unable to manage these affairs independently.

Key Reasons to Get a Power of Attorney for Your College-Bound Child

1. Medical Emergencies

Once your child turns 18, you no longer have automatic access to their medical information due to HIPAA regulations. With a medical Power of Attorney, you can make critical healthcare decisions if your child is unable to do so. This ensures timely and appropriate medical care during emergencies, which can be life-saving.

2. Financial Management

College life often brings financial challenges. With a financial Power of Attorney, parents can manage their child’s bank accounts, pay tuition fees, and handle other financial matters if their child is incapacitated or studying abroad. This can prevent financial turmoil and ensure your child’s finances are in order.

3. Legal Authority

In cases where your child is involved in a legal matter, having a Power of Attorney allows you to act on their behalf. Whether it’s signing legal documents or dealing with landlords for apartments, this authority can help resolve issues efficiently and effectively.

Types of Power of Attorney

There are different types of POAs, and it’s essential to choose the right one for your needs:

• Medical Power of Attorney: Allows someone to make health care decisions on behalf of the child .
• Durable Power of Attorney: Remains in effect even if the principal becomes incapacitated.
• Springing Power of Attorney: Becomes effective only when a specific event occurs, such as the principal’s incapacitation.
• General Power of Attorney: Grants broad powers over various matters.
• Limited (or Special) Power of Attorney: Grants authority for specific tasks or for a limited period.

How Do I Obtain a Power of Attorney?

Great question… We’d love to help.

1. Consult an Attorney: Seek legal advice with Scott Bloom Law to understand the specific needs and requirements for your POA.
2. Draft the Document: Whether you live in PA or NJ, we will help you draft a POA that meets state laws and addresses your specific needs.
3. Sign and Notarize: The document must be signed by the principal (your child) and notarized to be legally binding.
4. Distribute Copies: Ensure that relevant institutions, such as banks and healthcare providers, have copies of the POA.

And you’re done! At Scott Bloom Law, we make the process as easy and painless as possible.

Conclusion

As your child embarks on the exciting journey of college life, preparing for unforeseen circumstances with a Power of Attorney is a wise decision. It offers peace of mind, knowing that you can step in and help when needed, ensuring your child’s well-being and financial stability. Don’t wait until it’s too late – secure a Power of Attorney before your child heads off to college.

Want to gain some peace of mind and secure a Power of Attorney for your child? Schedule a free consultation with us today. Give us a call at 1-215-364-1111 or click the button below!