Why You Need Medical, Financial Powers of Attorney for Your High School Grad

Medical and financial powers of attorney should be signed before anything goes wrong, so it’s a good idea to get them before your adult child goes to college.

Some college students walk together on a college campus.
(Image credit: Getty Images)

Did you know that if you have adult children away in college or just living out of state or on vacation and they become incapacitated in a severe car or diving accident or a nasty fall while hiking, the hospital cannot legally offer you any information about their condition? In addition, the medical staff cannot allow you to make important financial and medical decisions for your adult children.

These concerns have been top of mind for me recently as my daughter graduated from high school and will be attending school out of state. If you’re like me and want to be proactive, below I discuss what you can do to make sure you stay informed if your adult child has a medical emergency.

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The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.

Marguerita M. Cheng, CFP® & RICP®
CEO, Blue Ocean Global Wealth

Marguerita M. Cheng is the Chief Executive Officer at Blue Ocean Global Wealth. She is a CFP® professional, a Chartered Retirement Planning Counselor℠ and a Retirement Income Certified Professional. She helps educate the public, policymakers and media about the benefits of competent, ethical financial planning.