There’s One More Document Necessary:

A Durable Power of Attorney

We’ve only addressed the child’s medical related matters, but what about financial or educational matters which may need to be attended to if the child becomes disabled due to illness or accident?

A Durable Power of Attorney will empower the child’s parent (or other appointed person) to handle immediately, without going to Court, such matters as: accessing bank accounts and credit cards; paying bills; accessing online accounts (including online banking); enter contracts with third parties (including with an attorney, if legal representation is necessary); and obtain educational records.  (By the way, merely holding joint accounts or assets with parents, or parents holding a child’s assets in their own names, are not wise alternatives; these may create more taxes and creditor liabilities for the parents, as well as affect financial aid or government benefits for the child.)


Getting these needed items are not difficult or expensive. So please don’t just use fill-in-the-blank forms, like you can download off the internet.  Remember, we are specialists in this type of planning and our documents often cover situations (which we’ve encountered over the past 38 years) that mere forms fail to adequately protect against.

Have your child contact and come and see us (since they’re now an adult,  they’ll have to do it on their own, but you can help with the fee, which by the way is modest for these and will be quoted when they come in).

Philip J. Kavesh
Nationally recognized attorney helping clients with customized estate planning guidance for over 40 years.
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