Your College "Kid" Isn't a Kid Anymore.

Any parent knows that their job is never really done. But, according to the law, once your baby turns 18, they are legally an adult. Without legal documentation, you may not have a say if a medical crisis hits or have access to help them manage their affairs while they’re away at school.

Any parent knows that their job is never really done. But, according to the law, once your baby turns 18, they are legally an adult. As an adult, your child is no longer a minor and your ability to help them manage their finances or make medical decisions is no longer automatic. Without legal documentation, you may not have a say if a medical crisis hits or have access to help them manage their affairs while they’re away at school.

As you’re making your “to do” list before your son or daughter heads off (or back to) college in the fall, be sure to include having your child get powers of attorney. Of course, we hope beyond hope that the documents are never needed, but having them in place can provide peace of mind to both parents and students, knowing that, if something were to happen, the student can get assistance from someone they trust.

In general, any young adult should have a power of attorney for finances and a power of attorney for health care. These two documents allow the named agent to make decisions relating to both finances and health care, as well as access information, which, in some circumstances, is just as important as being able to make decisions.

Powers of Attorney for Finances

A durable power of attorney for finances allows your adult child to name an agent who can help them manages their finances (and the other affairs of adulthood). The named agent can do things like pay bills, manage money and investments, and sign documents on behalf of your child. For example, a durable power of attorney would allow the named agent to move money between accounts, sign tax returns, or make changes to a financial aid or loan package.

Health Care Powers of Attorney

A health care power of attorney names an individual who can assist with medical decisions if your child is unable to make those decisions for himself. As an adult, your child is entitled to make his own medical decisions as long as he has legal capacity. But, in the event of an emergency, the power of attorney would name someone who could step in to make decisions for your child while he cannot. Proper health care documentation also includes a HIPAA authorization, which allows medical personnel to share your child’s medical information with certain individuals, so that you (or other named person) can find out your child’s condition in the event of an emergency.

Talking to your Child About Powers of Attorney

If you do ask your young adult child to prepare powers of attorney, it is important to remember that your child is not required to name you as their agent. As an adult, your child has the right to name any individual they would like to help with finances and medical decisions. Young adults can be very eager for independence and may not be excited about the prospect of signing a power of attorney that allows their parents access to information and decision-making authority.

However, where there is an objection, more often than not the objection is theoretical rather than based in actual concern. Most young adults would want their parents to have access to help make decisions and receive information if there were to be a medical emergency. Likewise, most young adults prefer that their parents continue to handle some of the less-than-fun aspects of being an adult, like handling medical insurance disputes. An honest conversation about the pros and cons of having medical and financial powers of in place can ease the fears of even the most independent young adults.

Some simple planning now can make certain that, if your “kid” still needs you, that you’re able to step in and help your child when they need it.