College Prep To-Do: The College Care Package
CONGRATULATIONS graduates! 🎉 Graduation season is here, and families everywhere are preparing for dorm shopping, move-in dates, and the exciting transition to college life. As you help your student get ready for their next adventure away from home, there is one important item you may want to add to your summer checklist: a College Care Package.
At Bequest Estate Planning, our College Care Package includes two important legal documents for college-age students: a Financial Power of Attorney and an Advance Directive for Health Care.
While turning 18 brings independence and freedom, many parents are surprised to learn that once their child becomes a legal adult, they no longer automatically have the legal authority to make medical or financial decisions on their behalf, even in an emergency. That is where these documents can make all the difference.
What is a Financial Power of Attorney?
A Financial Power of Attorney is a legal document that allows your child to appoint someone they trust to handle financial matters if they are unable to do so themselves.
Here are a few examples of where a financial Power of Attorney may be needed:
If your child becomes seriously ill or injured, you may need access to bank accounts, tuition information, or other important financial matters.
If your student is studying abroad or traveling, a Power of Attorney can help you assist with unexpected issues without unnecessary delays.
If important documents need to be signed while your child is unavailable or incapacitated, a trusted person can step in to help.
Without a Power of Attorney, even parents can run into legal roadblocks when trying to assist their child.
What is an Advance Directive for Health Care?
An Advance Directive for Health Care allows your child to name someone they trust to make medical decisions if they cannot make those decisions themselves. This document allows healthcare providers to communicate with designated family members.
This is particularly important for college students:
Who may be living far away from home and without immediate family nearby.
Whose wishes should be followed to avoid potential conflicts or misunderstandings between family members during stressful and emotional times.
Ensure your child’s wishes are known and respected
For students living away from home, having these documents in place helps provide peace of mind for both parents and students alike.
A Simple Step That Can Make a Big Difference
No one wants to imagine emergency situations during such an exciting season of life, but planning ahead is one of the best ways to protect your family. As you prepare your student for college, do not forget to include legal preparedness alongside the bedding, meal plans, and school supplies.
Before move-in day arrives, contact Bequest to learn more about our College Care Package and how we can help your family head into this next chapter with confidence.