The Need for a POA Starts at 18

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by Mark Kralj

With all the things that need to be taken care of when a graduating high-schooler attends college, identifying someone as their power of attorney probably doesn’t make very many to-do lists.

Most students who attend college are over the age of 18, therefore triggering the need to have a power of attorney in place. Although college students may not have significant assets when they head to school, they still may have health and financial decisions that need to be made should they become incapacitated.

This article from Financial Advisor highlights the need to start talking to college students about their increased personal responsibility around managing their health and financial affairs. Working with the family’s estate planning attorney on this topic and others is an important step. Another option, as listed in this article, is to seek a power of attorney representation form from your state. College students should make sure that their family, doctor, preferred hospital, attorney and any financial institutions have this information as well.