The one thing you need to do before your kids travel abroad
Getting your offspring to give you power of attorney before they travel or work overseas can help you protect and support them if they are scammed or sick.
Parents can provide global protection and support for their children who are overseas on holiday or working by asking them to create legal authority to act on their behalf as problems, or opportunities, arise.
A power of attorney, for which lawyers typically charge about $200 to $300 to complete, enables parents to act for their children aged over 18 in commercial transactions, manage their assets, and even make financial decisions on their behalf when they are travelling or working overseas.
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Duncan Hughes was a reporter at The Australian Financial Review
