![]() ![]() Your attorney does not need to be a lawyer, but should be someone you trust.A POA can apply for a specific or unlimited period of time, and depending on what the POA says, it can also cover the period after you become incapable of managing your own financial affairs.A POA is a legal document that you sign to give another person the authority (legal ability) to make decisions about some, or all of your financial affairs, which may include accounts you have with us.As their agent, you could handle tasks such as paying their bills, filing tax returns, monitoring investments and depositing checks. When the adult child goes to college, a parent can become the trusted person, (“agent” or “attorney-in-fact”). Whether to pursue quality and comfort of life or do everything possible to extend the adult child’s lifeĪ financial POA allows your adult child to authorize someone to handle their financial transactions.How aggressively brain damage or disease should be handled.Whether to disconnect life support systems.When and if the patient should undergo surgery.Which facilities and doctors/physicians to visit.They can provide copies to their insurance company, their physicians, their hospital, important family members and their attorney, if applicable.ĭecisions that the medical power of attorney authorizes include: This document offers written healthcare instructions to their healthcare providers and agent.Īfter completing a medical POA and, if desired, a living will, your adult child should ensure that everyone involved in their care and health can access those. If your child wants to clarify their wishes, they can create a healthcare declaration, also known as a living will. If you serve as an agent, you must listen to your child and follow their treatment choices and preferences when arranging their care. ![]() In these cases, the doctor will authorize the agent to take over and ensure that the following steps are carried out to ensure your child gets the best medical care according to their needs and wishes.Īs agent, you will ensure that healthcare providers and doctors offer your child the best medical care they wish to receive. Such conditions may include losing power of communication due to accident, dementia or any other disease, falling into a coma due to brain injury or stroke or having a mental health lapse that compromises their ability to make sound decisions. The medical POA is effective if your adult child suffers from severe medical conditions that require an agent to act on their behalf. The person who is appointed and named in the document is known as the “agent,” “healthcare surrogate” or “attorney-in-fact.” When your child makes a durable power of attorney for healthcare, they can name you as the trusted person who should oversee all their healthcare and medical care if they are unable to do so. This document gives you the power to make healthcare decisions if your child is too injured to speak. Learn more >Īs a parent to an adult child, you can get a medical power of attorney. Kiplinger Advisor Collective is the premier criteria-based professional organization for personal finance advisors, managers, and executives. A valid healthcare power of attorney means that the trusted person is legally allowed to care for critical healthcare issues or direct medical care if your child is incapacitated. The word “durable” means that the document stays in place if your adult child cannot make personal decisions or becomes incapacitated. Five Mistakes to Avoid When Writing a Financial Power of Attorney What are POAs?ĭurable powers of attorney are legal documents that give someone the power to act or choose in place of your adult child. ![]()
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