This article was published in May. We have had many inquiries. Here is an encore presentation:
A Power of Attorney and a Health Care Power of Attorney for Young Adults
A power of attorney and a health care power of attorney are important documents for young adults to prepare. Once one turns eighteen years old, he or she becomes an adult in the eyes of the law. Parents no longer have any authority over their child’s finances or health care decisions. Haven’t you heard the stories about parents not receiving their child’s college course grades, even though the parents are paying the tuition? It is for the same reason. He or she is of majority age. The school can no longer release the grades to the parents without the student’s permission.
Power of Attorney for Financial Matters
It may become necessary for parents to open or close bank accounts, withdraw funds, wire funds, or do any one of hundreds of financial transactions for a young adult. This is particularly true if he or she is attending college. I have personally experienced this, and the need for a parent to act is not something foreseeable. Financial transactions from accounts or investments owned by a young adult, cannot be made by a parent once a child reaches eighteen. A bank will require the student’s legal authority by a power of attorney. Additionally, it may become necessary for a parent to sign any number of documents on behalf of a child. Studying abroad? Who is going to take care of business here, while the student is half a world away? A properly executed power of attorney by the young adult will allow a parent to do what becomes necessary, here, at home, in support of their child.
Health Care Power of Attorney
Adults are legally empowered to make their own health care decisions. But what happens when they cannot?Accidents do happen. Fortunately they are rare. But if the young adult is knocked out, or for any number of reasons cannot communicate with health care professionals, someone must have the legal authority to make medical decisions. A properly executed health care power of attorney, executed by the young adult, will solve this issue. There will be no delay. There will be no questions.
SV Law’s Answer to This Problem
Shanahan & Voigt, LLC is running a special program to meet this need. If a young adult fills out a quick questionnaire and returns it to our office with the fee of $250.00, we will have the documents ready in a week for signature. The documents must be signed before leaving for college or by Labor Day 2017, whichever comes first. Peace of mind? Priceless. Learn more about our Young Adult Summer Program.