Monday, June 16, 2014

Power of Attorney Part 3: Who needs a Power of Attorney?

A Power of Attorney (POA) is vital for any adult. In fact, adult children who are 18 years of age or older should have a POA. Even if the parent of an adult child pays for school and medical bills, personnel from these institutions are not allowed to speak to the parent; only the child

Let’s look at a hypothetical situation: An 18 year old is away at college, and all the bills come to the parents’ house. Should the parents have any questions regarding these bills, they cannot actually speak with representatives from the college without the express permission of their adult child.

If the student had a POA naming one or both parents as the adult child's Agent or Co-Agents, the parents would have the needed authority to talk to the college about anything pertaining to their child.

Another hypothetical situation: you receive an invoice for medical treatment from the college and want to know what happened, and if more treatment is necessary or recommended. What if the child is severely injured or ill, and cannot give permission for the doctors to talk to you? You would then have to seek “Guardianship”, which is a long and expensive process.

Having a POA for your adult child can streamline and simplify many similar situations. 

Click here for Part 4 of our Power of Attorney series.