You’ve likely been preparing your child for their next step in life if they recently graduated from high school. This might include buying dorm room essentials, reviewing class schedules, filing paperwork for student loans and financial aid or prepping them for job interviews. However, you might have neglected powers of attorney for health care and financial matters. After their child turns eighteen, parents generally no longer have the authority to make health care decisions or manage their child’s financial matters unless the child has named their parent(s) as agent(s) under a power of attorney. For more information about getting power of attorney for your recent high school graduate in New York, please read on, then contact one of our experienced Putnam County powers of attorney lawyers today.
Here are some questions you may have about getting power of attorney for your recent New York high school graduate:
What is a healthcare power of attorney in New York?
A healthcare POA is a document that appoints an agent to make healthcare decisions on behalf of an individual who’s incapacitated. The agent will make decisions based on the documented preferences provided in the healthcare POA if the incapacitated individual can no longer make or communicate reasonable healthcare decisions. Furthermore, the healthcare POA will allow the agent:
- Access to the incapacitated individual’s medical records, and
- The ability to communicate with doctors and other health care professionals
In the event of an emergency, they may prove crucial in ensuring your child receives appropriate care.
What is a financial power of attorney in New York?
A financial POA designates the agent to act on the incapacitated individual’s behalf regarding financial matters. With a financial POA, the agent can:
- Pay bills
- Settle debts
- Make decisions regarding property
- Otherwise handle the individual’s financial affairs
Your college-age child may not have substantial assets, but their credit cards, checking and savings accounts, car loans and apartment leases may prove cumbersome in the event of an emergency. Financials POAs may also have the ability to grant agents access to digital accounts such as online accounts for school, banking, social media and more.
Do you need a lawyer to create a power of attorney in New York?
In New York and other states, one does not need to hire a lawyer to create a power of attorney. You can do it yourself, saving yourself time and money. If you follow New York’s requirements, any POA you create will be just as legal as one a lawyer drafted.
However, a lawyer can assist you in creating a POA that covers everything and protects your child from most eventualities. If you have any questions, please reach out to a skilled Putnam County estate planning attorney immediately.
Contact our Firm
If you or a loved one needs assistance creating an estate plan, contact the Law Office of Andres D. Gil, PLLC today.