As students returned to college campuses throughout the country in recent weeks, it wasn’t long before COVID-19 outbreaks were making headlines.
While the trend of young people as virus “spreaders” has grown, so too has a trend in estate planning. According to a report from WealthManagement.com, parents are more commonly seeking health care directives and durable powers of attorney (POA) for their college-age children.
A durable POA is state-specific and allows parents to make financial decisions on a child’s behalf. A health care directive allows parents to make medical decisions on behalf of their child.
Whether you are considering these options or need additional guidance or questions answered in regard to estate planning, remember you can lean on the experts at Trust Point. We will work hand-in-hand with your attorney to meet your needs.