As college students gear up to head back to school, there’s a lot to think about. Textbooks, tuition, roommates, class schedules, and more. But something that Tennessee parents often overlook is having Powers of Attorney in place for their college students.
While it might not be at the top of the back-to-school checklist, having Powers of Attorney in place before the kids leave for college is a crucial step for both practical and legal reasons.
In this article, we’ll discuss why Powers of Attorney are needed, along with two important aspects of life that these documents cover.
Why is a Power of Attorney Needed?
It’s easy to consider your college student as your child. And that’s true. But once your child reaches the age of 18, the law considers him or her to be an adult. This means the access you previously had over his or her life fundamentally changes.
Whereas before, you could act in almost any capacity necessary on the child’s behalf, you cannot do that when your college student is over 18. Your now-adult child must authorize you to speak and/or act on his or her behalf. Otherwise, the school, doctors, financial institutions, etc. cannot speak with you about your student’s status.
This may be a difficult concept to grasp, especially after 18 years of being able to act for your child. But the law declares 18 to be the age of majority. At this stage, things change. And it’s important to be proactive so that you can assist your college student while he or she is away.
With a Power of Attorney, there is an agency relationship. The one making the Power of Attorney is the Principal, and the one receiving the power is the Agent. The Agent owes a duty of care to the Principal and must follow instructions closely when using this authority.
Here are the types of situations these Powers of Attorney will help you effectively manage, should the need arise.
Power of Attorney for Healthcare Helps During Medical Emergencies
When students move away to college, they gain newfound independence and autonomy. But this independence comes with its own set of challenges, particularly in times of medical emergencies.
Accidents and illnesses happen unexpectedly. If a student is unable to communicate his or her wishes, having a Durable Power of Attorney for Healthcare in place makes a world of difference. For a college student, typically a parent would serve as Agent, but others may also fill this role.
A Durable Power of Attorney for Healthcare grants the Agent legal authority to communicate with healthcare providers and make medical decisions on your student’s behalf. This is especially critical if the student is incapacitated and is unable to make those decisions or communicate.
This could involve deciding on treatment options, surgeries, or even end-of-life care. Without this legal document, you as the parent will face roadblocks in accessing important information or making vital decisions during a medical crisis.
This is especially important if your college student is attending school a significant distance away from where you live. So, if you live in Murfreesboro, but your student is in Knoxville, you’ll still be able to protect his or her interests.
The Durable Power of Attorney for Healthcare enables you to act promptly should the need arise.
Power of Attorney for Property Helps with Financial Matters
College is a period of significant financial growth and responsibility. Students have bank accounts, credit cards, student loans, and other financial matters to manage in their own names for the first time.
If your student becomes incapacitated, having a Durable Power of Attorney for Property allows the parent, as the Agent, to step in and handle financial affairs on his or her behalf.
The Durable Power of Attorney for Property is separate from the Durable Power of Attorney for Healthcare. Both documents generally ought to be durable, though—meaning the authority survives the Principal’s incapacitation.
A Durable Power of Attorney for Property can provide varying levels of authority. This can range from managing day-to-day expenses to handling major financial transactions. If you are assisting your college student with paying tuition, it is wise to have this in place to ensure smooth processing of all financial obligations.
Without these legal documents in place, parents will encounter difficulties accessing their child’s financial accounts or making critical financial decisions in situations if their student is unable to do so.
Final Thoughts on Powers of Attorney for Parents of College Students
Sending a child off to college is a significant milestone for both parents and students. While the focus is often on academics and personal growth, it’s equally important to address practical and legal considerations.
Establishing Powers of Attorney before your student heads back to school is a proactive step. It will provide peace of mind during a highly formative and sometimes volatile stage of life.
Speak with your college-aged child about the critical need for these documents. Since the student is an adult, he or she will be the one creating the power and giving it to you or whichever person chosen for Agent.
Connell Law, PLLC assists college students and their parents with preparing Powers of Attorney. To get these important documents in place, reach out to us today to schedule your free consultation.