Parents want to ensure that they are able to provide their child with the best assistance and care that they can attain. Sending the child away to college, parents may think that providing school supplies and a stipend will cover everything, but issues can spring up that call for another type of support, the durable power of attorney. By having a power of attorney in place for their 18-year-old child, parents in California can intervene and offer support during a medical emergency or a financial issue.
The power of attorney is often thought of as a tool for responsible people to care for older, disabled or otherwise vulnerable people. The power of attorney allows a person to make medical or financial decisions on behalf of another person. Should a medical emergency arise for their adult child out of state, a parent may incorrectly assume that they will be given information about their child, but if that child is over 18, the health information is protected by a federal law known as HIPPA, and cannot be given out.
The power of attorney will also allow parents to interact with college bursar offices, banks and financial institutions concerning the child. If the need arises, the power of attorney can access social media accounts as well. Installing a power of attorney with the child allows a parent to manage important medical and financial issues before they become a big problem.
In California, a power of attorney can be easily set up. Most people, including parents who wish to have power of attorney over young adult minors, use the services of an attorney to set up this document. An experienced estate planning attorney can offer guidance on the right approach for each individual’s unique needs.
Source: bizjournals.com, “Back to school: Send kids to college with money, clothes and a power of attorney,” Michelle Corbet, July 17, 2017