A guardianship is a court-ordered relationship that is created to protect a person who is incapable of handling their estate or personal affairs. Guardianship law varies by state.
Unlike a last will and testament, a revocable living trust is effective during your lifetime.
Advance directives typically consist of a living will and a power of attorney for healthcare.
One of the biggest challenges that clients encounter during the process is deciding who to appoint as their trustees, powers of attorney, health care surrogates and executors.
As a kid reaches 18, they’re an adult in the eyes of the law. Therefore, your parental authority no longer exists and in turn you can lose access to information.
A frequent concern for those with aging loved ones is the future need for guardianship. Unfortunately, the concept of guardianship can be confusing and overwhelming.
Most people think of wills as written instructions for use after death. In contrast, living wills provide your instructions for continuing or halting life-sustaining healthcare while you’re alive.
Although laws vary from state to state, every state requires that less restrictive alternatives be considered before invoking a guardianship. These might include such vehicles as limited guardianships, powers of attorney or assisted decision-making agreements.
Even Consumer Reports suggests working with an experienced estate planning attorney to make sure documents are correctly prepared.
A critical item is often missing from back-to-school college checklists — and it could be far more valuable than anything else your student takes to school this fall: signed legal documents.
