If you’ve done any estate planning, or even if you’re just familiar with it, you probably know the basics — that is, a comprehensive estate plan can help you pass on assets to your family while also achieving other goals, such as designating someone to take care of your affairs if you become unable to do so. But you may not know about some other estate-planning issues that could prove important in your life: Power of attorney for students – Children heading off to college may be considered legal adults in many states. Consequently, you, as a parent, may not have any control over medical treatment if your child faces a sudden, serious illness or is involved in an accident. Instead, a doctor who doesn’t know your child or your family may decide on a course of action of which you might not approve. To help prevent this, you may want to have your college student sign a medical power of attorney form, which will allow you to make decisions on your child’s behalf if doctors don’t think your child can make those choices. You might also want to combine the medical power of attorney with an advance health care directive or living will, which lets you specify actions you do or don’t want to happen. In any case, consult with your legal advisor before taking any of these steps.
