Most people are well acquainted with the concept of an orphaned child being protected by a guardian and/or a conservator until he or she becomes of age. But are you aware of what would happen if an adult was to become mentally or physically incapacitated and require supervision?
The matter of whether a sick parent, a senior citizen or even a young adult requires a guardian and/or a conservator to manage his or her personal and/or financial affairs is usually an emotional one that needs to be handled with care. Usually, a parent does not want to give up his or her autonomy, though in the end it may be for the best.
For instance, if an aging parent has Alzheimer’s disease, it can leave him or her with the false sense that he or she can still manage things effectively. In cases like these the children may be doing the elder a service by petitioning the court to appoint a guardian.
Conversely, some adult children want to rush things along when their parent slows down a bit due to old age. Sad to say, there are cases when adult children are motivated to rush to judgment with regard to a parent’s supposed incapacity due to greed.
However, if the proper incapacity planning strategy is carried out by the parents with the assistance of a Stockbridge qualified estate planning attorney, there should be no need for a guardianship proceeding. You can simply execute a durable power of attorney for health care matters, and another one for financial matters, naming different respective attorneys-in-fact if you so choose. In this manner, decision makers of your own choosing will be in place in the event of your incapacitation.
To learn more about guardianship and conservatorship and how it can be avoided, consult with a licensed, experienced Henry County estate planning attorney.
Pyke & Associates, P.C. is a member of the American Academy of Estate Planning Attorneys.