Good job, Mom and Dad! You did it!
That little person you were in charge of made it through preschool, elementary, and high school. You are now sending your new adult off to college. Bet you never thought about the importance of Financial and Healthcare Powers of Attorney for college students. As your new adult sets out on their new adventure, as a parent you will surely still watch out for him or her.
You are no longer responsible for the day-to-day basics that have gotten your child this far. However, your new adult now has a new challenge. Mom and Dad are no longer automatically and legally able to have a say in their financial or healthcare decisions. UNLESS your child sets up powers of attorney permitting you to. We don’t WANT to think about our young adult becoming incapacitated, but it’s something we MUST consider. It’s important to be sure we can meet the needs of our children. Especially when they are 18 or older and in situations where they may not be able to take care of themselves and we don’t have the power legally to do so.
To avoid a probate guardianship or conservatorship in the event they are not able to take care of themselves, PLEASE have your adult child execute valid Financial and Healthcare Powers of Attorney. The value of these tools is priceless. When your new adult sets up both of these safeguards, they are putting their trust in you to continue caring and helping them when they themselves may not be able to meet their own needs. This will also keep you calm knowing you can still care for your child.
What is a Healthcare Power of Attorney?
A Healthcare Power of Attorney is a document that allows you to appoint an individual to make your medical decisions and provide for your medical care if you become incapacitated.
What is a Financial Power of Attorney?
A Financial Power of Attorney is a document that allows you to appoint an individual to handle your personal financial matters if you become incapacitated. Both of these Powers of Attorney will prevent having to go to Probate court to open a Guardianship or Conservatorship.
What is a Guardian?
A Guardian is a court appointed individual who handles your medical decisions and provides for your medical care if you become incapacitated.
What is a Conservator?
A Conservator is a court appointed individual who handles your personal financial matters if you become incapacitated. Don’t we all want first and foremost to have someone we trust to look after us and help us meet our needs rather than a court appointed stranger? I can help you secure the right people to care for you and your loved ones if the need comes up.
Give me a call at (517) 708-2222 or email me at Katrina@CornerstoneLegalPLLC.com.