Once a child reaches age 18, he or she is an adult by law. Parents lose the right to learn about their child’s health, tuition bills and even their grades once their child becomes an adult. It can be rather worrisome if your child is miles away and becomes ill or suffers an accident and is hospitalized. What if they need assistance with a bank account or filing a tax return? These unnecessary worries can be avoided if your child executes two (2) simple documents – an Advance Directive for Health Care (ADHC) and a Power of Attorney (POA) for financial matters.
If your child executes an ADHC naming you as his or her agent, this will ensure that healthcare providers, legally bound to protect the privacy of their patients, can discuss your child’s care with you. The power to discuss your child’s medical information and the right to make healthcare decisions for them can become invaluable if they are involved in a serious accident or are hospitalized.
Likewise, if your child executes a POA naming you as his or her agent, this will ensure that you can help manage a bank account, file a tax return, respond to a jury summons or renew a car registration on behalf of your child.
Do you have questions about this article and/or any other comprehensive financial planning and wealth management strategies, contact us today directly at 404-273-0089 or at firstname.lastname@example.org.
Article by Jeff Mangieri
deAndrade Mangieri LLC