Should College Graduates Get A Will And Power Of Attorney?

Most people may associate a will and power of attorney with old age or individuals with a high net worth. The truth is, however, every adult, including college students and graduates, should have these important documents in place.

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What Is A Will?

A will is somewhat straightforward documentation in which you declare what needs to happen to your property following your passing. You are also able to use your will to designate guardians for your minor children, appoint an executor, debt forgiveness, and establish how to pay your taxes.

Following your passing, your executor will pay any debts or taxes and deals with who receives what on the basis of the conditions in your will. This court-governed and clearly-structured process is termed as “probate” and has been known for being prolonged and costly.

Your will can include such things as:

Beneficiaries
Business assets/distribution
Care for your pets
Disposal of debts/taxes
Guardianship for your children and their inheritance
Property beneficiaries
The executor of your estate

What Is A Power Of Attorney?

A POA is legal paperwork that authorizes someone other than you (referred to as attorney in fact) for making business, legal, and financial decisions for you. Should you become unable to oversee your own affairs, the individual you choose is going to be able to take care of them on your behalf. The attorney in fact is going to be able to pay your bills, carry out repairs to your home, sell your vehicle, manage your business, and more.

When you don’t have a POA, court proceedings are necessary to prove that you are not mentally sound and then have a guardian named on your behalf. If you carry out a power of attorney, you can decide on the individual you prefer and there is no delay from the time you need them to handle your affairs and the time they are able do so.

Reasons Why College Graduates Should Have A Power Of Attorney

A power of attorney, specifically, is a critical document for college students because it helps protect their health, legal interests, and financials if the unexpected happens. Below are a few reasons why a power of attorney is necessary, even at a young age.

Life Changes At Age 18

Once a child turns 18, parents no longer have automatic rights to check medical records, talk to doctors, or make financial decisions on their child’s behalf.

This is why having a power of attorney in place is such a big deal. It ensures that parents or another trusted person can legally step in during a possible financial or medical emergency. Getting a power of attorney is a simple yet powerful way to prepare for the future as an adult.

Prepare For The Unexpected

It’s no secret life can change in an instant. A car accident or any other unexpected issue can leave you temporarily or even permanently unable to make decisions for yourself. If this is the case, who will have the legal authority to make decisions for you?

A durable power of attorney ultimately allows college students to name a trusted person to make medical decisions and/or handle finances in the event they become incapacitated. Without this document, families may have to endure a lengthy court process just to access medical information.

Protect Financial And Legal Interests

With college students often juggling tuition payments, bank accounts, credit cards, and more, a financial power of attorney is essential. This legally allows someone to handle these financial responsibilities if the student cannot do so.

This document offers flexibility and support for students. Including a power of attorney in a student’s estate plan can help avoid any potential complications in the future.

Avoid Any Guardianship Or Conservatorship Issues

In the absence of a valid power of attorney, loved ones may be forced to pursue either guardianship or conservatorship options if a student becomes incapacitated.

When a power of attorney is established, this difficult court process will be entirely avoided. Guardianship or conservatorship processes can be extremely time-consuming and costly.

Conclusion

A will and power of attorney should be in place for all adults, not just senior citizens. These documents are crucial for college students and graduates to put in place.

A power of attorney will ensure medical and financial protection, plus an overall peace of mind. Contact the experienced team at Ogborne Law today for more information!

Source:

1. 1. “5 Reasons Every Adult Over 18 Should Have A Power Of Attorney” Retrieved on December 5, 2025 from https://www.diducalaw.com/5-reasons-every-adult-over-18-should-have-a-power-of-attorney/

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