Your daughter is away at college. She hasn’t called for a day or two.
If she is sick, and needs to be in the hospital, and somewhere else that can help her recover, what about everything that needs to be taken care of?
She cannot pay her bills, cannot cancel her lease. What do you need?
When we focus upon a daughter or son that is ill, particularly if they are 18 or over, there are always financial matters that need to be handled for them while they recover. Without a Durable Power of Attorney, a parent may find that a very difficult task.
When many of us went away to college, we opened a checking account, lived in a dormitory or an apartment with a roommate, and lived pretty simple lives, at least by today’s standards.
Now a college student will have a checking account or two, a number of credit cards, electronic accounts on everything from Facebook to Twitter to Google, as well as electronic storage accounts on DropBox, Box, photo sites such as Snapfish and Shutterfly, and purchase accounts on Amazon and EBay.
If your college student is hurt or ill, how do you get access to all of that, protect it, make sure someone else doesn’t take it, use it, distribute it to others? Enter the powerful “Durable Power of Attorney.”
Your college student uses this document to name the person to handle their financial affairs, whether it is the checking account or the Amazon account. It is flexible, in that it can be effective immediately, or only if your college student is completely incapacitated. Without this Durable Power of Attorney, it might be necessary to take out an adult guardianship in the local Probate Court.
Be certain that your college student (and you if you do not have one) signs this straight forward Durable Power of Attorney, naming the person to take care of financial matters.