The Importance of Having College-Bound Children Sign Powers of Attorney

August 5, 2024 – Ryan Farley.

As parents, we prepare our children for college by ensuring they have all the essentials: dorm supplies, textbooks, a working laptop, and the best advice we can offer. However, one critical aspect often overlooked is the need for college-bound students to sign Powers of Attorney (POA). While it may seem premature to think about legal documents at this stage, having POAs in place is a vital step in safeguarding your child’s well-being and managing potential emergencies.

Understanding Powers of Attorney

A Power of Attorney is a legal document that grants someone the authority to act on another person’s behalf. There are different types of POAs, but two key ones for college students are the Medical Durable Power of Attorney (Medical POA) and the Financial Durable Power of Attorney (Financial POA).

• Medical POA: This document allows a designated individual, often a parent, to make medical decisions for the student if they become incapacitated or unable to communicate their wishes.
• Financial POA: This allows the designated person to manage financial affairs, such as banking, paying bills, and handling insurance matters on behalf of the student.

Why College Students Need POAs

1. Medical Emergencies: College is a time for growth and independence, but it also comes with risks. Accidents, illnesses, or sudden medical conditions can occur without warning. In Kansas, if your child is 18 or older, they are legally an adult, and you do not have the right to make medical decisions on their behalf. A Medical POA ensures that you can step in and make critical healthcare decisions if your child is unable to do so.
2. Privacy Laws: The Health Insurance Portability and Accountability Act (HIPAA) protects the privacy of an individual’s health information. Once your child turns 18, healthcare providers cannot share medical information with you without your child’s explicit permission. A Medical POA, including HIPAA authorizations, ensures that you can access necessary medical information to make informed decisions.
3. Financial Management: Managing finances can be challenging for college students. They may need assistance with banking, dealing with landlords, handling insurance claims, or managing tuition payments. A Financial POA allows you to assist your child with these financial responsibilities, ensuring that their financial affairs are handled smoothly in their absence.
4. Emergency Situations: Life is unpredictable, and emergencies can arise at any time. Whether it’s a natural disaster, an accident, or an unexpected health crisis, having POAs in place ensures that you can act swiftly and effectively to support your child. This legal preparedness provides peace of mind for both parents and students, knowing that there is a clear plan in place.

How to Get POAs in Place

Establishing POAs is a straightforward process, but it’s essential to ensure that the documents are correctly drafted and executed. Here are the steps to follow:

1. Consult an Attorney: Seek advice from an experienced attorney who specializes in estate planning or family law. They can provide guidance on the appropriate documents and ensure they comply with state laws.
2. Discuss with Your Child: Have an open conversation with your child about the importance of POAs. Explain how these documents will protect their interests and allow you to help them in emergencies.
3. Draft the Documents: Work with your attorney to draft the Medical POA and Financial POA with the HIPAA authorizations. Ensure that all details are accurate and clearly stated.
4. Execute the Documents: Sign the documents in the presence of a notary public or witnesses, as required by state law. Make copies and ensure both you and your child have them easily accessible.

Preparing for college involves more than packing bags and buying textbooks. Ensuring that your college-bound child has signed Powers of Attorney is a crucial step in protecting their health and financial well-being. By taking this proactive measure, you can provide your child with the support they need to navigate college life safely and confidently.

If you have questions about Powers of Attorney or need assistance, call 316.631.3131 to schedule a consultation with Dan Peare or Ryan Farley.