School is starting in August. The summer has gone by so fast! Many of my friends are focused on getting their children ready for college, yet a lot of them are not thinking about making sure those children have a Financial power of Attorney and an Advance Directive for Health Care. Why would this be important? If your child is over 18 years of age in Georgia, then they are adults. This means that as their parents you no longer have the right to make medical decisions for them or find out medical information about them without their consent. You are also not allowed to access their finances. I have a childhood friend whose son was in college and home for the summer. He had an accident and became a quadriplegic. Those forms were very important to them. The Georgia Financial Power of Attorney was updated in 2018 so if you do not have a current copy it is a great time to meet with your Estate Planning Attorney and update your Financial Power of Attorney and also have your adult child sign some documents before heading off for college.
Laura K. Schilling, J.D., CPA, CFP®, CSA
Financial Innovations, LLC
6111 Peachtree Dunwoody Road, Suite F101
Atlanta, Georgia 30328
(404) 393-3063 fax
Securities offered through Triad Advisors, LLC. Member FINRA/SIPC. Advisory services offered through Financial Innovations, LLC. Financial Innovations, LLC is not affiliated with Triad Advisors, LLC.