My oldest is a junior in high school, but she is fast approaching legal adulthood. I am reminded of this as we visit colleges and discuss all the exciting new adventures that are just around the corner for her. As college-bound students prepare for the next chapter of their lives, there are countless items on their to-do lists: selecting classes, packing belongings, and saying goodbye to friends and family. However, amidst the excitement and anticipation, there’s one crucial task that often goes overlooked but is of utmost importance: executing a power of attorney for finances and an advance healthcare directive.
At the age of 18, individuals legally become adults in the eyes of the law, regardless of their maturity level or level of independence. While this newfound independence is exhilarating, it also comes with significant responsibility, especially when it comes to making decisions about healthcare and finances. Many young adults may not realize that once they turn 18, their parents or guardians no longer have automatic authority to make medical or financial decisions on their behalf. This is where the importance of having these essential legal documents comes into play.
Firstly, let’s discuss the power of attorney for finances. This document allows college students to designate someone they trust to manage their financial affairs in the event they become incapacitated or are unable to make decisions for themselves. Without a power of attorney for finances in place, parents or guardians may encounter significant challenges in accessing their child’s bank accounts, paying bills, or managing financial obligations during times of crisis. Imagine a scenario where a college student is hospitalized due to illness or injury and is unable to handle their financial matters—without a power of attorney, navigating these issues becomes exponentially more complex and stressful for all parties involved, and will likely result in court involvement.
Similarly, an advance healthcare directive is equally vital for college students. This document outlines an individual’s preferences for medical treatment and appoints a healthcare agent to make healthcare decisions on their behalf if they are unable to do so. In the absence of an advance healthcare directive, medical professionals may be legally unable to discuss a student’s medical condition or treatment options with their parents or guardians, regardless of the severity of the situation. This lack of communication can lead to confusion, delays in treatment, and added stress during already challenging times, and will likely lead to court involvement.
It’s essential for college students and their families to understand that these documents are not only for the elderly or those with chronic illnesses—they are essential tools for anyone over the age of 18. Accidents and unexpected health issues can happen to anyone, regardless of age or circumstance. By taking the proactive step of executing a power of attorney for finances and an advance healthcare directive before heading off to college, students can ensure that their wishes are respected and that their loved ones have the legal authority to act on their behalf when needed most.
In conclusion, executing a power of attorney for finances and an advance healthcare directive is a crucial step for college-bound students to take before embarking on their educational journey. These legal documents provide peace of mind for both students and their families, ensuring that important decisions regarding healthcare and finances can be made promptly and in accordance with the student’s wishes. By taking this proactive approach, college students can focus on their studies and personal growth, knowing that they have taken the necessary steps to protect themselves and their loved ones during times of need.
Contact Mauriah Conway, Esq. to assist you with all of your Estate Planning, Probate and Trust Administration Needs (916) 920-5983.
Disclaimer: This blog post is for informational purposes only and does not constitute legal advice. Please consult with a qualified attorney for guidance specific to your situation.