Congratulations to your High School graduate… : THEY NEED A POWER OF ATTORNEY!!!
When your child turns 18, they are legally recognized as an adult, with full responsibility for their personal and financial decisions. Despite this new autonomy, unexpected circumstances can arise where your son or daughter might not be able to make decisions for themselves, such as during medical emergencies or if they are incapacitated. This is where a power of attorney (POA) becomes truly important.
A power of attorney is a legal document that allows someone, such as a parent, known as the agent, to make decisions on behalf of the person granting the authority. For your 18-year-old, having a POA in place ensures that you or other trusted family members or even friends can step in to manage their affairs if they are unable to do so or need their assistance. This is especially important for medical decisions. In case of an accident or serious illness, healthcare providers require consent for treatments. Your child is now, an adult and you CANNOT make medical decisions for them without a POA. When a POA is not in place, parents may face significant legal hurdles in accessing medical information or making critical health decisions. It often requires that you open a case in probate court to establish guardianship before you can make decisions that are needed to help your child. Having a POA in place for medical affairs can help avoid this problem.
Furthermore, a POA can be instrumental in managing financial matters. If an 18-year-old is traveling abroad, studying away from home, or temporarily incapacitated, an agent can handle banking, pay bills, manage investments, and ensure that the individual’s financial obligations are met without interruption.
A power of attorney provides a safety net for young adults. It provides peace of mind, allowing someone trustworthy to make essential decisions in times of need. Establishing a POA early can safeguard the well-being and financial stability of an 18-year-old, making it a prudent step in responsible adulthood.
So, congratulations to your High School graduate and please put the proper POA in place to protect them and hope you never need to use it.
For more information on this subject or any other legal need, please reach out to me at (888)235-4357(Help) and have a safe and happy graduation season.
Brian.