When individuals cannot manage their finances, courts can appoint guardians. Financial guardianship is for those who need help handling money. Depending on the jurisdiction, financial guardianship may also be called guardianship of the estate or conservatorship. In cases where individuals…
Join us as we discuss the different types of guardianship and the responsibilities that go along with each one. We will talk about the basic requirements to becoming a guardian, as well as the goals, authority, rights of the respondent…
Britney Spears’s legal fight to wrest back control over her personal and financial affairs has flooded the issue of guardianship in Klieg lights. While a full guardianship may be necessary for many individuals who are incapable of managing their own…
Every adult is assumed to be capable of making his or her own decisions unless a court determines otherwise. If an adult becomes incapable of making responsible decisions, the court will appoint a substitute decision maker, usually called a “guardian,”…
If you’re a baby boomer, you may already have had “the talk” with your growing children. But have you had “the talk” with your aging parents as well? That talk involves a frank discussion with parents about financial arrangements for…
A durable power of attorney is one of the most important estate planning documents you can have. It allows you to appoint someone to act for you (your “agent” or “attorney-in-fact”) if you become incapacitated. Without a power of…
Serious problems with the public guardianship system in the United States can lead to elder abuse, according to an in-depth article in The New Yorker titled “How the Elderly Lose their Rights.” Court-appointed guardians can take control of an elderly person’s finances and…
Many people, especially seniors, see joint ownership of investment and bank accounts as a cheap and easy way to avoid probate since joint property passes automatically to the joint owner at death. Consider these three potential drawbacks before signing on the dotted line.
When a loved one cannot make proper decisions of their own, it is important to protect them from abuse, exploitation or neglect. At the same time you want to develop the maximum self-reliance and independence of the ward.