Many people have signed at least one power of attorney in their life. A power of attorney, which names a trusted family member, friend or advisor as your ‘attorney-in-fact’ to control your assets, is meant to be used if you are incapacitated.
A conservatorship, also known as a guardianship, is a legal mechanism set up for people who are unable to manage their affairs.
My Dad has been deemed unable to make his own decisions, and he does not have a Power of Attorney. The hospital said we need to apply for guardianship. What is that?
If the durable power of attorney can’t be transferred, what needs to be done to establish a new durable power of attorney for my aunt despite her mental incapacity?
When an individual cannot make important decisions for himself or herself, a judge appoints someone called the conservator or guardian to make decisions. The conservator has the legal backing of the court in all decisions, including finances, medical and personal care.
Many families have experienced the rollercoaster of emotions watching a loved one slowly start to subside to dementia or Alzheimer’s, but it’s important to realize that you and your loved ones are not alone.
As a result of illness, old age or incapacity, what may happen when you can no longer handle your own decision-making, handle your own money or make your own health care choices? Who can step in to help and how are they empowered?
Cindy, a widow in her early 60s, was undergoing physical therapy for an injury to her foot, making it difficult for her to get around. In addition, she was suffering depression brought on by the immobility and pain, resulting in her neglecting to pay bills and taking care of other financial affairs.
Although there is often a progression of complexity in estate planning, this progression generally follows stages in life rather than specific ages.
