The Benefits Of A Power Of Attorney For College Students
There are many ways to prepare for your child leaving for college. You may consider different types of storage solutions for their dorm room, the textbooks they will need, and more. You may think that your child is too young for estate planning, but if they are over 18 years old, now is also the time to talk to them about drafting important documents. One of these is a power of attorney that can help ensure that your child is protected in the event of unforeseeable events. Below, our Daytona Beach power of attorney lawyer explains in greater detail.
What is a Durable Power of Attorney?
A durable power of attorney is a legal document that designates another person, known as the agent, to act on someone else’s behalf, known as the principle, in the event of incapacitation. Essentially, the agent can make financial, legal, and healthcare decisions for a person in the event that the principal cannot make those decisions for themselves. The powers granted to the agent vary depending on the type of power of attorney.
Individuals must draft a power of attorney while they are of sound mind, such as before your child leaves for college. These documents become effective as soon as they are drafted and are useful during urgent medical situations, other emergencies, and extended time away from home, such as when the child is attending school.
How Does a Power of Attorney Benefit College Students?
After your child turns 18, you can no longer make decisions on their behalf. Even if you are financially supporting your child, you may not legally have access to their medical or financial records. If your child becomes incapacitated or unavailable, this lack of authority can make things very challenging, at a time that is already very difficult. The only way to ensure they receive the care, support, and possibly treatment they need is through a power of attorney.
When Would a College Student Need a Power of Attorney?
No one can predict what the future will bring. A power of attorney can help your child in the event of sudden emergencies, such as the following:
- Medical emergencies: No one wants to think that their child may face a medical emergency, but it can happen. Regardless of whether your child is living at home while going to school, or across the country, a power of attorney can ensure that you can make decisions according to your child’s wishes regarding their medical treatment.
- Financial transactions: In the unlikely event that your child becomes incapacitated through a serious injury or illness, a power of attorney can ensure that their financial affairs continue to be managed. This can include making sure their room and board, tuition, and other expenses are paid so they do not face financial insecurity in the future.
- Legal issues: Adjusting to college life can be difficult. Although we all hope that our children will make good decisions, legal representation may be necessary if an issue arises such as being accused of a DUI or cheating on an exam. If your child is incapacitated at the same time, you or another trusted individual can handle these issues on their behalf.
Our Power of Attorney Lawyer in Daytona Beach Can Help
If you or your child needs help protecting their future, our Daytona Beach power of attorney lawyer can help. At Bundza & Rodriguez, our experienced attorney can ensure your estate planning documents are executed properly so they are enforced by the courts and your loved one’s wishes are respected. Call us now at 386-252-5170 or contact us online to request a consultation and to learn more about how we can help.
Source:
flsenate.gov/laws/statutes/2010/709.08
