May is an exciting time for many of Bequest’s clients, as their children graduate and move on to the next phase of their lives! Graduation season is especially exciting for anyone sending a child to college as a freshman. We at Bequest love supporting our clients at every phase of life and sending a new adult child to college is no exception. That’s why we’re offering a new College Care Package, which includes a power of attorney and advance directive for health care for college age students. Why would your young adult need a power of attorney and advance directive for health care? Read on to find out!
As your child enters college, they become an independent adult with newfound freedoms and responsibilities. While this is an exciting time, it's important for parents to recognize that they may no longer have the legal authority to make decisions for their child in certain situations. This is where a power of attorney and advance directive for health care can be crucial.
A power of attorney is a legal document that grants someone else the financial authority to act on your behalf. In the case of a college student, a power of attorney can allow parents to manage their child's financial affairs if they become incapacitated or unable to make decisions on their own. For example, if your child becomes seriously ill or injured, you may need to access their bank accounts or sign important documents on their behalf. Without a power of attorney, you may not be able to do so.
A power of attorney may also be important even if your child is not incapacitated. While your child may be able to make decisions for themselves, there may be situations where it would be helpful for a parent to act on their behalf. For example, if your child is studying abroad and needs help managing their finances, a power of attorney can allow you to do so without having to navigate complex legal systems in a foreign country. Additionally, a power of attorney can be helpful in situations where your child may be unavailable or unable (or unwilling) to make decisions on their own. By having a power of attorney in place, you can ensure that you are able to act quickly and effectively in your child's best interests, regardless of their legal capacity.
An advance directive for health care is another legal document that can outline your child’s wishes for medical treatment in the event that they cannot make the decision for themselves. This can be particularly important for college students who may be living far from home and without immediate family nearby. Creating an advance directive ensures that your child’s wishes are followed and can help avoid potential conflicts or misunderstandings between family members during stressful and emotional times.
While it can be difficult to think about these types of scenarios, it's important to be prepared. Creating a power of attorney and advance directive for health care can give both you and your child peace of mind and help ensure that their well-being is protected. It can help protect your child's interests and well-being in the event of an emergency, and it can provide you with the legal authority to act on their behalf when necessary. Don't wait until it's too late – take the necessary steps to ensure that your family is prepared for any situation.