@twoinanddone What would happen in the case of an adult child who sustained a serious accident and was unable to take care of financial responsibilities because of injuries sustained in the accident. I understand that the medical POA could make medical decisions , but how would they have access to bank accounts etc to ensure necessary financial needs are met? Not arguing , just trying to find out what options there are.
Do your kids really have bank accounts which have enough dough in them so you need access to the money in case of injury/accident? My kids went off to college with their summer and HS job savings, some graduation gifts from Aunts and Uncles, and our contribution to their “book money” (aka beer money for one of my kids) fund.
God forbid in case of injury- what good would a POA have had in accessing these modest amounts? Certainly not enough money to pay a significant bill of any consequence.
Now they are all working adults- they “own” their own financial life. Debts/assets/ tax liabilities- who knows. But at age 18?
I have a friend that has a daughter that turned 18 in Nov, in Dec she had a horrible rock climbing accident and was unable to communicate when she arrived in the ER. The parents were keep in the waiting room with no information other than “she’s having a procedure.” Parents weren’t given any info on her condition until she was able to communicate that she wanted her mom and dad involved. If they had a POA they would have been able to get updates on her condition before she was able to communicate.
After the last thread on this topic I decided that it would not be necessary. If something happens to an unmarried adult with clear parentage (married parents without any divorce or step parent issues) the next of kin is clearly defined and would be contacted. If a incompetence is long term the court assigns somebody to handle these things - typically the next of kin.
As others have said - as college students - what financial responsibilities do they have - tuition, health care, rent - I assume parents are typically paying these costs for their students anyway.
@3scoutsmom - that’s the kind of scenario that I’ve read about and it is concerning. Wonder if one could execute a very limited POA that would include only that type of scenario.
HIPPA should cover the ER - you don’t need POA for that (and I think the kids do need to give their parents HIPPA access) - we all need to give our next of kin HIPPA access
OK, let me throw out this scenario.
A male college student is accused of rape. He’s being told by the college that he is now involved in a disciplinary process, that he has to be interviewed immediately by the Title IX investigator/officer, and that he may not seek legal counsel prior to doing so. He calls his parent and asks for help. You, as a parent, want to engage an attorney for him immediately as there are time sensitive aspects to his situation.
Wouldn’t a POA help in this case?
You don’t need a POA to hire an attorney for someone else.
[ I understand that the medical POA could make medical decisions , but how would they have access to bank accounts etc to ensure necessary financial needs are met?]
You would go to court to get a guardianship established, just like you would for any adult who needs one. Even a spouse might need to get a guardianship if there are non-joint assets or accounts that must be accessed. Having a POA might be accepted at some banks, with a landlord, etc. but many make you get a court order to do anything permanently. The POA isn’t really a very powerful document and, if there is time, most banks want something with a little more oomph, like a court ordered guardianship or letters. For a big loan, big mortgage, sale of treasures, many lenders or others won’t accept the general POA and will require a specific one for that transaction.
Access to bank accounts is easy - just have your name on the accounts. My kids have the same accounts they’ve had since they were babies. When they were teens they added a checking/debit option. My name is on them as co-owner. I can move money. I, being honest, only do it when I want to. If they don’t want me on the account anymore, they can remove me and then they’d have to do their own banking. My kids are lazy and like having me involved but easier for them doesn’t make it better. I can’t think of anything I’d need a POA for.
Many people think having a POA lets them act like an attorney for that person or entity. NO! Having a POA doesn’t make you an attorney. You can’t show up in traffic court with a POA and expect to stand in for your child who had gone back to school. You can’t fight landlords or show up in court waving a POA. You can hire an attorney for your child (contract) and IF the child gives permission, discuss the matter with the attorney. You can’t show the POA to the college and get all kinds of information otherwise not available to you.
Maybe. The medical POA transfers decision making IF the person is unable to do so. If the medical personal made a decision that the patient was able to make her own decisions (‘yes, please operate on me’), or that there was no time to get any consent and they were making medically necessary decisions (stop the bleeding, deliver the baby) there is no decision for the POA holder to make. If the patient is still able to make decisions or medically there is no option but to do X, the POA doesn’t give you the right to information. It only kicks in if there are decisions to make (cut off the arm, remove the spleen) and the patient can’t make them.
Thanks for the info @twoinanddone