For many parents, college is the first time they truly let go. A child who once relied on them for everyday decisions suddenly lives hours away, manages their own schedule and begins building a life on their own terms. That growing independence is something to celebrate. It also brings legal changes that many families do not expect.
When an Indiana student reaches age 18, the law recognizes them as an adult. Parents may no longer have the ability to step in on certain medical or financial issues without the proper legal documents in place. Planning ahead with a power of attorney can help families prepare for unexpected situations. It also allows students to stay in control of their own future.
What changes when your child turns 18?
Parents often believe they can continue helping their child just as they always have. However, once a child becomes a legal adult, that is no longer always the case.
Without the proper legal authority, parents may encounter challenges if a college student has a medical emergency or cannot manage important matters for a period of time. Health care providers may not be able to share certain medical information. Banks and other financial institutions may also refuse to discuss accounts or accept instructions from anyone other than the student.
A power of attorney allows a student to appoint someone they trust to act on their behalf if an unexpected situation occurs. Depending on how the document is written, that authority may include handling financial matters, communicating with banks or insurance companies or making health care decisions if the student cannot communicate their wishes. A power of attorney does not take away a student’s independence. Instead, it allows them to decide who they trust to step in when necessary.
Legal planning before college can make a difference
Every family’s circumstances are different, but discussing these questions before move-in day can help avoid unnecessary stress later. Topics to consider include:
- Whether a financial power of attorney is appropriate
- Whether a health care power of attorney should also be prepared
- Who the student wants to serve as their agent
- What authority the agent should have and any limits on that authority
- When the power of attorney should take effect and when it should end
These conversations may not be as exciting as shopping for dorm supplies or attending orientation. Even so, they can give families reassurance and peace of mind.
Preparing for the unexpected starts with a conversation
No family wants to imagine an emergency during a student’s first semester away from home. But, planning ahead can make difficult situations easier to manage while respecting a young adult’s independence. An experienced Indiana estate planning attorney can explain how these documents work, answer questions about Indiana law and prepare a plan that reflects a student’s wishes and a family’s needs.