Powers of Attorney – An Essential for College Students

Sending your child off to college is a significant milestone in their life. While it is important to devote time to picking your dorm accessories or drawing a map of your classes on campus, it is crucial that you also consider the legal ramifications of your child turning 18 and moving away.

A power of attorney (POA) is a legal document that grants authority to another person (known as the agent) to act on behalf of the signer (known as the principal). For college-bound students, two types of POAs are particularly relevant:

1. Power of Attorney for Health Care: This document allows the appointed agent to make medical decisions on behalf of the student if they become incapacitated and unable to communicate their wishes. This can include decisions about medical treatments, surgeries, and other healthcare matters. Without proper documentation, parents will be unable to access the medical records or assist in the care of their child if they have turned 18.
2. Durable Power of Attorney for Finances: This POA grants authority to the agent to manage financial matters on behalf of the student. This could include accessing bank accounts, signing leases, managing investments, or handling other financial transactions. This POA allows parents to continue to assist the student in managing their finances and also ensures that a parent can step in to manage affairs if the student is incapacitated or unavailable.

For parents, having these POAs in place offers peace of mind knowing that they can assist their child effectively in times of need, regardless of distance or circumstance. Without these documents, parents may find themselves navigating complex legal processes to gain authority over their child’s affairs, which can be time-consuming, expensive, and emotionally challenging.

Moreover, college environments can present unique situations where having a POA can be invaluable. Whether it’s a medical emergency, a legal matter, or a financial transaction, having a designated agent empowered by a POA can expedite decision-making and ensure that the student’s interests are protected.

It’s important to note that POAs are customizable to fit the specific needs and preferences of each family. Consulting with an attorney can help ensure that the documents are properly drafted according to Illinois law and that they accurately reflect the wishes and intentions of the parties involved.

While sending a child off to college is an exciting milestone, it’s also a prudent time for families to consider the legal implications and to prepare accordingly, such as having powers of attorney in place. At our firm, we understand the importance of these documents, which is why we're currently running a special promotion on the creation of powers of attorney (please note, offer ends on October 1st, 2024). This offer ensures that you can protect your child's interests and handle any unforeseen circumstances with confidence while they pursue their educational goals.

If you would like to schedule a free consultation to learn more, or to discuss how powers of attorney and an estate plan can benefit you and your family, please call attorney Heather A. McCollum at (847) 705-7555 or email her at hmccollum@lavellelaw.com.