Trostin Kantor & Esposito LLC

Stay Involved in Your Child’s Physical and Financial Health with Power of Attorney Documents

Before a child turns 18, the child’s parents may make decisions regarding the child’s health care and finances. However, once a child turns 18, parents no longer have this ability by default.   Instead, the child must execute a document called a “power of attorney for health care” for parents to stay involved in the child’s health care. Similarly, the child must execute a document called a “power of attorney for property” for parents to stay involved in the child’s finances.   When completing the power of attorney for health care, the child decides the order of his or her “health care agents”: the people who will make medical decisions for the child if he or she is unable to make his or her own medical decisions. This document can also dictate when an agent is authorized to see the child’s medical information and the type of care the child wishes to receive.   When completing the power of attorney for property, the child also decides the order of his or her “agents:” the people who can access the child’s financial information and assist the child in managing his or her finances. When a child selects his parent as agent, the parent may be added to the child’s bank accounts as a signatory, rather than a joint owner. The issue with a parent and child being joint owners on an account is that joint ownership opens the parent to potential liability for the child’s personal financial decisions, and vice versa. However, when a parent is added to the child’s bank accounts as an agent under a power of attorney for property, the child’s personal financial liabilities do not extend to the parent.   Therefore, power of attorney for health care and property documents are options that can allow parents to stay involved in their child’s physical and financial health.

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