Kids. They grow up so fast. They eventually become adults and while you never stop parenting, you recognize they are responsible for their own decisions. It’s a tightrope parents have to walk as their children become teenagers. Dealing with the whole “independence” thing while voicing your concern to make sure they don’t make big mistakes. But what we also do as parents is make sure our children are safe when they are in clear and present danger. One such example is if your child is hospitalized. In the event that happens, you want to make sure you can be there for your child in any way possible. But you need to understand the legal components of it. Therefore, it’s worth doing your research to understand why it’s important to have power of attorney for college-age student.
What is a Power of Attorney?
You may have heard of one before, but they are legal documents that allow another agent, which is designated by an individual, to make legal decisions on his/her behalf in the event of incapacity. So, for an individual who is incapacitated, the POA steps up and makes the decisions that need to be made. It’s worth appointing someone you know has your best interests at heart as your own POA. But what about your child?
You may recognize that you have authority over your child’s financial and healthcare decisions, but once the child reaches age 18, that all changes. While some states & systems may have more leniency than others when it comes to sharing private information, the general rule is that an 18 year old is an adult, and therefore is subject to the same privacy laws you and I share.
Why Does This Matter?
I don’t want to get grim, but bad things can and do happen to good people. When your child is in college, he/she may find him/herself in a situation that could involve hospitalization. It’s a parent’s biggest worry and worst nightmare. The stress and anxiety of knowing that can be paralyzing, compounded if the child is nowhere near home.
Technically speaking, HIPAA protects the child from others knowing their health status, in some cases, including from his/her parents. By having a power of attorney that you can provide to the hospital, not only can you keep informed, but you can make important medical decisions as their advocate when they need it most.
Durable Power of Attorney
While the example above may be rare and stressful to even consider, my next example is more realistic and common. 18 year old children typically have a warped view of money. Some (not all) can be irresponsible and ignorant of how finances work. Therefore, they can make some pretty bad decisions. Again, since they are of legal age to make these decisions, their financial affairs are technically speaking, none of your business. By adding a durable power of attorney, you can stay up to date and keep abreast of anything your child is doing financially, and provide the necessary guidance they could be so desperately needing.
How Do I obtain one? What does it cost?
The bets way to obtain one is to speak to a trusted attorney. The costs may vary, but at a minimum, consider it insurance against your child’s vulnerability. I pray you don’t have to experience needing this, but in our world, anything is possible. By protecting yourself and your child legally, you can remove any doubt of an institution denying your right to know what is happening in your child’s life, especially when they need you the most. I don’t specifically help clients with this, but I see the value that you’re properly covered. It’s a simple fix, but valuable to become power of attorney for your college-age student.
