Power of Attorney for your College Bound Child

A power of attorney (POA) is a legal document that grants someone else the authority to make decisions and take actions on your behalf. When it comes to an 18-year-old child, there are a few scenarios where a power of attorney might be beneficial:

1. Financial Matters: If your child is going away for college or traveling extensively, you might consider a limited power of attorney for financial matters. This would allow you to handle their financial affairs, such as paying bills, managing bank accounts, and handling investments if necessary.

2. Healthcare Decisions: A medical power of attorney (also known as a healthcare proxy or medical directive) grants you the authority to make medical decisions for your child if they are unable to do so themselves. This can be important if your child becomes incapacitated due to illness or injury.

3. Legal Transactions: If your child is involved in legal matters, such as a lawsuit or a contract, they can appoint you as their agent through a limited power of attorney to act on their behalf in those specific legal matters.

4. Travel Convenience: If your child is planning to travel extensively and might not be available to sign important documents, they can grant you a limited power of attorney to handle specific matters during their absence.

5. Business or Property Management: If your child owns property or is involved in business transactions, they might want to grant you a limited power of attorney to manage these affairs on their behalf.

It's important to note that a power of attorney can be tailored to suit your child's specific needs and can be limited in scope or duration as required. However, granting someone a power of attorney is a serious decision and should be made carefully. Your child should fully understand the implications and consult with legal counsel if needed before proceeding.

Keep in mind that laws regarding powers of attorney can vary by jurisdiction, so it's a good idea to consult with a legal professional who is familiar with the laws in your area to ensure that the document is properly drafted and compliant with local regulations.