As your student prepares for college life, amid the dorm supplies and class schedules, there’s a crucial legal consideration many families overlook: establishing Powers of Attorney and related documents for your newly-adult child.
When your child turns 18, the legal landscape shifts significantly. Parents no longer have automatic rights to medical information, financial accounts, or even academic records. These protective legal measures aren’t just paperwork—they’re essential safeguards for unexpected situations.
This isn’t merely theoretical—the stakes are real. According to the National Center for Health Statistics, young adults aged 18-24 account for approximately 5.5 million emergency department visits annually. Without proper documentation, parents may find themselves unable to help during these critical moments.
Medical Advocacy When They Need It Most
Consider this reality: if your 19-year-old is hospitalized after an accident on campus, medical staff legally cannot share information with you or accept your input without proper documentation. A Healthcare Power of Attorney allows your student to designate someone they trust to make medical decisions if they become unable to communicate.
The need for medical advocacy is particularly pressing given that the American College Health Association reports 40-45% of college students experience periods of depression severe enough to impair functioning, and 75% report overwhelming anxiety at some point during their college career.
This isn’t about maintaining control—it’s about ensuring someone trusted can advocate for them during vulnerable moments when quick decisions may be necessary.
Navigating Academic Privacy Barriers
While you may be financing your student’s education, without Family Educational Rights and Privacy Act (FERPA) consent, you have no right to access grades, billing information, or communicate with university administration about their academic standing. This authorization allows appropriate transparency between parents and the institution.
This disconnect is particularly notable considering Sallie Mae’s research shows approximately 60% of college students’ education costs are covered by parents—who then have no legal right to see how that investment is performing.
Financial Power of Attorney: Practical Protection
Whether your student studies abroad or faces unexpected circumstances, a Financial Power of Attorney enables you to manage time-sensitive financial matters—paying bills, handling financial aid issues, or addressing banking concerns—if they’re unable to do so themselves.
With nearly 350,000 U.S. students studying abroad annually according to the Institute of International Education, many families encounter situations where financial matters must be handled domestically while students are overseas.
Respecting Personal Healthcare Wishes
Though difficult to consider, a Living Will documents your student’s preferences regarding medical interventions in critical situations. Having these wishes clearly established prevents uncertainty during already challenging circumstances.
Despite these clear needs, there remains a significant preparedness gap. A survey by Caring.com found fewer than 22% of adults under 35 have any estate planning documents, including healthcare directives. More specifically, only about 15% of parents with college-aged children have helped establish Powers of Attorney for their students.
Final Thoughts: Preparedness, Not Overprotection
These documents represent thoughtful contingency planning rather than overprotection. They empower your student to designate trusted individuals while creating a safety net that activates only when absolutely necessary.
We’ve seen and heard of families caught in difficult positions during emergencies because these straightforward documents weren’t established beforehand. Taking this precautionary step offers you and your family significant peace of mind.
Interested in learning more?
At James Investment, we can assist in coordinating these essential protections for your family. Consider scheduling a consultation before the semester begins to address these important preparations.
