Parents should get heath care and financial powers of attorney for their college-age children

Attorney Chris Merrill: I've had several in-person appointments this morning, including one to share with listeners out there. I had a young couple that they signed their trust documents with me and they did this because of, again, having three young kids under 18. Here's the part to share with listeners. They are going to be coming back to me this summer because their oldest will turn 18.

Attorney Tom Olsen: Got it.

Chris Merrill: We want our listeners to know out there that it is important that when you have a child that turns 18, whether that is in high school or before they go off to college or whatever they are doing in life, it really doesn't matter, but when they turn 18 or soon after, you as parents should have power of attorney documents for them.

Tom Olsen: The child should sign the power of attorney giving mom and dad authority.

Chris Merrill: Exactly.

Tom Olsen: Is that for business or health or both?

Chris Merrill: For both. In other words, we are doing more and more financial power of attorney and healthcare power of attorney for kids that are turning over 18. What does that mean? It means exactly, Tom, like you said, the child signs the power of attorney saying that their parents would be able to talk to doctors if they were in college and there was some accident or some situation, any medical thing that would require the parents' involvement.

It allows the school to be able to talk to the parents as well as if, again, the child got a concussion from a sport and the parents needed to be able to pay bills or do something on that child's behalf on their college checking account that only the child is in their name. It would require financial power of attorney for the parents to help them out.

Tom Olsen: That's right. As long as your child is under the age of 18, that child's doctors are going to talk to you, give you medical information, give you access to records, but once the child turns 18 and they're legally an adult, the doctors are not going to talk to you about your child's healthcare decisions or release medical records to them. That's why it's certainly important to have a healthcare power of attorney.

Chris Merrill: Correct.

Speaker 3: One minute.

Chris Merrill: Thank you for mentioning that, Tom, because that very thing was happening with my clients this morning. Mom was recently at the pediatrician with the oldest. The pediatrician alerted Mom, "Hey, son's turning 18 this summer. We're not going to be able to talk to you anymore."

Tom Olsen: All right, folks. Well, thank you for all your great calls and question. We do so much appreciate it. Remember, you can always reach the Olsen Law Group in Orlando at 407-423-5561 or olsenlawgroup.com.

[00:02:55] [END OF AUDIO]