Since the day they were born, you’ve taken care of your kids, and you’ll probably continue to do so as they get older, albeit in various ways. You might be preoccupied with giving your kids advice on matters like education, their first apartment, or a job offer as they get older. What many parents in the US might not realize is that, once their child reaches the age of 18, they are no longer able to make emergency financial or medical decisions on their behalf.
Parents often lose the ability to make financial or healthcare decisions on behalf of their 18-year-old children unless the youngster has appointed you as their power of attorney.
Power of Attorney for Healthcare
In the event of an emergency, in order to make life saving decisions, you must have a Power of Attorney for Healthcare. After a person is 18 years old, stating “I am their mom” or “I am their dad” carries no weight without this legal documentation. The healthcare POA will also provide the agent access to the incapacitated person’s medical records and give him or her the power to speak with physicians and other healthcare professionals.
Financial Power of Attorney
Similar to a healthcare POA, a financial POA appoints a representative to handle financial concerns on behalf of the incapacitated person. A financial POA gives the agent the authority to manage the principal’s finances, including paying bills, settling debts, making decisions about real estate, and more.
If your child would like you to (legally) assist them in an emergency situation, consider getting a Power of Attorneys in place.
The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only.