College Students Need a Power of Attorney Too!

College students across the country are heading to their dorms or apartments to start another semester of studies. For many parents and students, this transition back to school may be filled with last minute to-do list items. This list rarely, if ever, includes a note to draft a power of attorney. However, it is an issue that both parents and students should consider.

Most college-age students are legally considered adults. This legal status severely restricts parents’ ability to access information on behalf of their children. Many parents do not realize just how restricted this access really is until they need to gather information on behalf of their child.

Emergency Planning for College Students

While a power of attorney is commonly associated with estate planning for older adults, college-age adults can benefit from this type of document as well. Without this document, parents cannot gain access to bank accounts, medical information, grades, etc. In the event of an emergency, having the ability to obtain this information can be extremely beneficial.

Without a power of attorney, parents may be forced to turn to the court to gain access to their child’s information. This process is both costly and time-consuming.

The threat of an emergency for college-age students is very real. In fact, accidents are the leading cause of death among young adults. Nearly 250,000 young adults between the ages of 18 and 25 are hospitalized every year due to accidents.

Concerns Regarding Medical Records

There are many situations where access to medical records makes sense. For example, if a college student contracts an illness on campus and is placed in the hospital, the medical facility may not be able to share details of his or her health status with parents due to privacy concerns. Having a valid, executed power of attorney or health care power of attorney helps avoid these potential issues.

Addressing “Adulthood” Concerns

As college-age adults are just getting their feet wet in the adult world, they may be hesitant to sign a power of attorney to their parents. As a parent, you can curb these concerns by creating a “springing” power of attorney, which only applies if a certain event occurs. The most common event is if the child becomes incompetent. While you likely need a medical professional to make this determination, it still gives parents rights in situations where they need it most.

Legacy Planning Law Group can help you and your family craft the documents that you need for your situation, including a valid power of attorney for the college student in your family. Contact us for more information on how we can help.

Written by Legacy Planning Law Group

Legacy Planning Law Group is dedicated to working with individuals and families to help protect the assets they have built throughout their life, and make everything simpler for families who have lost a loved one. We help thoughtful people achieve the peace of mind that comes with planning their personal legacy and passing on family harmony.