As college students head back to campus, families are busy checking off the usual list: tuition paid, textbooks ordered, dorm supplies packed, meal plan selected.
But there’s one back-to-school task that is easy to overlook, and it can become incredibly important if something goes wrong.
If your college student is 18 or older, it may be time to put powers of attorney in place.
Turning 18 Changes the Rules
For 18 years, parents are accustomed to handling important matters for their children. You can talk to the doctor, help manage financial accounts, sign documents, and step in when there’s a problem.
Legally, much of that changes when your child turns 18.
An 18-year-old is an adult, even if you’re still paying tuition, providing health insurance, and helping with everyday expenses. That means parents no longer automatically have the legal authority to handle certain financial or healthcare matters on their child’s behalf.
Most of the time, that isn’t a problem. But imagine that your student is seriously injured in a car accident, becomes ill while away at school or is temporarily unable to communicate. Suddenly, having the right documents in place can matter a great deal.
Two Documents College Students Should Consider
Two powers of attorney are especially important for young adults.
A healthcare power of attorney allows your student to name someone—often a parent—to make healthcare decisions if the student is unable to make or communicate those decisions.
Depending on the documents used, the plan may also address access to medical information. Privacy laws can limit what healthcare providers are able to discuss with parents once a child becomes an adult. Proper planning can make it easier for the person your student trusts to get the information needed during an emergency.
A financial power of attorney allows your student to authorize someone to handle certain financial or legal matters if necessary. Depending on how the document is written, that could include dealing with a bank, handling insurance matters, signing documents or taking care of other financial issues when your student cannot do so.
Having a financial power of attorney doesn’t mean Mom or Dad suddenly takes control of a student’s finances. Your student chooses whom to appoint and what authority that person receives.
“But My Child Is Healthy. Do We Really Need This?”
Hopefully, the documents will sit in a safe place and never be needed.
That’s the goal.
Powers of attorney aren’t just for older adults or people with serious health conditions. They are planning tools for adults of every age. Accidents and unexpected illnesses can happen to anyone, and the middle of an emergency is a difficult time to discover that a parent doesn’t have the legal authority everyone assumed they had.
This can be especially important when a student attends college several hours—or several states—away from home.
A Good First Step into Adult Estate Planning
Creating powers of attorney also gives families an opportunity to introduce young adults to an important concept: estate planning isn’t only about what happens after you die.
A good estate plan also answers an important question:
Who can step in and help me if I’m alive but unable to handle something myself?
For a college student, the answer may be fairly simple. For now, they may just need a few basic documents naming trusted people to help in an emergency. As their lives change—careers, marriage, children, homes and other assets—their estate plans can grow with them.
So, while you’re checking off that back-to-school list, add one more item: make sure your college student has the appropriate powers of attorney in place.
At Lifescape Elder Care Law & Estate Planning, we help individuals and families put legal plans in place for both the expected and the unexpected. If you have a college-age child who has turned 18, contact our office at 816.291.4143 to learn more about the documents your young adult should consider.
About the Author
Elijah Waugh is an attorney at Lifescape Elder Care Law & Estate Planning in Kansas City. He helps individuals and families create thoughtful, proactive estate plans designed to protect what matters most and prepare for life’s expected—and unexpected—changes.
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