Your Child is 18, Huzzah! Does Your Graduate Need a Power of Attorney?
Your child has turned 18, they’re going to college or trade school, or starting a job. Huzzah! Good job parents. But what about their information, grades, finances now?
Photography: Emily Ranquist
If your child isn’t ready for complete independence, they may want a Power of Attorney to grant you access to help them in some of these ways:
Getting information from their school regarding their account, finances, financial aid applications, grades and other information, pursuant to the Family Educational Rights and Privacy Act.
Opening mail sent to the home and making sure they are aware of bills, license or car information from the DMV, or other things sent to the home like a speeding or parking ticket (No college students ever get these!).
Filing their taxes, FAFSA, and other forms.
Hiring or firing of advisors such as a CPA or financial advisor.
Signing leases for housing or dealing with a lease gone bad.
Being able to deal with their basic banking by making sure they have money in their accounts, bills and credit cards are being paid timely to protect their credit score.
Assist with their investments including authorizing sells and trades, buying of securities.
Modify, maintain or terminate insurance policies.
Maintain, sell or acquire a vehicle, apply for certificates of title, pay an EZ Pass toll.
Access to certain health information protected by HIPAA to help if something happens.
These are everyday things that your child may need, not to mention, the additional help they might need if they choose to study abroad. Or if something catastrophic might happen to them. With so many of these basics having moved to digital portals for access, it makes a POA even more essential than many times in ye olden days when they would all come by mail.
If your young adult needs a POA or if you would like more information, please feel free to reach out to Family First Law.
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