An Important Reminder

An Important Reminder

Hard as it is sometimes for parents to acknowledge, at 18 their children are legally adults.  Among the privileges of adult status is the right to choose who will make financial and healthcare decisions on your behalf when you are unable to make such decisions for yourself.  I came across this  excellent article in Forbes on this very subject.

As helpful as the information is, it is also important to remember that the advice is relevant for the parents of any 18 year old not just the ones who have gone off to college.  Of course, not every power of attorney is created equal.  It is important to assure that the document not only gives authority to the agent, but also that it authorizes the agent to have access to all of the information the parent will need to make those decisions.  It is also critically important that the power of attorney be compliant with the recent changes in Pennsylvania law.