Starting college is a huge milestone not only for the student, but also for the parents and family. It is the first step towards entering the real world and preparing for it.
What most parents do not realize is that once their not-so-little child turns 18 years old, they no longer have the legal right to make financial or health care decisions for their young adult.
To help avoid chaos in the time of need, setting up your children's financial and healthcare powers of attorney is crucial. Otherwise you would have to gain court approval to make any financial or healthcare decisions on the behalf of your own child.
Call us at 818-334-2088
or use our contact form to get started today!
BENEFITS OF PLANNING
Being able to sign on behalf of your child in the event that they are unavailable or incapacitated. For example, signing a lease for your child.
Being able to access your child's funds to transfer them money in the event that they decide to study abroad and are unable to access their finances.
Being able to make healthcare decisions for your child in the event that they are unable to.
Having peace of mind that should something happen to your child, you can take the necessary steps to aid them.
REAL LIFE SCENARIO
A 19 year old son goes on spring break to an island in Mexico and catches an illness. The son goes to his on-campus medical center for medical treatment and like any parent, the parents rush to the college campus. For privacy reasons, the parents do not even know what's going with their child nor does the doctor release any information in regards to the son's condition. Fortunately, the son made a full recovery.
Had the parents had the correct legal documents in place, they would not have to deal with such a situation.