If your college student is home for the summer, the next few months provide an ideal window of opportunity to sign powers of attorney before the next academic year. Parental access to a child’s medical and financial information is restricted following their 18thbirthday, limiting the aid parents can provide if their adult child experiences unexpected illness, injury or other difficult life circumstances. Working proactively to ensure your adult child’s well-being helps mitigate the risk of added stress and hardship on your family down the road.
By signing a Power of Attorney for Healthcare, young adults ensure their parents have the ability to receive medical information and make potentially vital choices on their behalf.
Similarly, by signing a Power of Attorney for Property, adult children permit their parents to handle financial matters, such as credit card bills, rent and utilities, bank account transactions and related financial particulars.