What Should an Adult Child Know About a Power of Attorney?
Many people believe that they should not select their power of attorney until they are in their later years. This is dangerously false. With the world we live in, anything can happen at any moment. Good health is not guaranteed, and can change at the drop of a hat. Therefore, you need to be prepared, even at the young age of eighteen years old, with a power of attorney. This can be confusing to an adult child, but taking the steps to understand what this means is vital to everyone.
If you are a parent and you are sending your child off to college, you need to help them get their ducks in a row. Creating a durable power of attorney needs to be at the top of that checklist. Accidents can happen to anyone, and some can be tragic. With this being said, your adult child needs to have someone who can make decisions on his or her behalf because your child is no longer living at home. Creating documents that give you authority to act in a crisis will lift a weight off of your shoulders, as well as your child.
If you are eighteen, you are probably wondering, what is a power of attorney? It is likely that you have never heard of this term and have no idea what your parents are talking about. A power of attorney is someone that you elect to make important decisions for you, if you are unable to do so, usually because of health reasons. These decisions become greater as you become older, but once you turn eighteen you are no longer seen as a minor. When you are no longer a minor your parents can’t make decisions for you unless you have given them documented permission. When you are choosing who your power of attorney will be, make sure you can trust them with your life. Choose someone who is responsible, has good decision making skills and will be there for you in a crisis.
As the parent it is your responsibility to make sure your child understands and signs this document. As the adult child, who still probably thinks your parents don’t know anything, it is your responsibility to listen to your parents. Together, you can find an attorney who understands the importance of creating the right estate planning for you and work together to get the support you need. Attorney Donna Wilson is here to help you and your family! Don’t wait to call us at 866-603-5976 or contact us via our website to schedule a meeting with Donna directly.