An article in the local newspaper (yes, I still read a hands-on-newspaper) several months ago discussed guardianship which can be a life saving measure or a major problem.
Per the article by Julian Gray and Frank Petrich, “a
guardianship is a court-appointed assignment of a surrogate decision-maker for
the benefit of a person who has lost the ability to make informed decisions.” The appointed person can be a stranger and
you have probably read about individuals who have assumed a guardianship and
then stolen assets from the very person the guardian was to protect.
If an individual has not planned, in advance, to appoint an “agent”,
and the court makes the appointment, the relationship could continue for years
while the person is incapacitated. However,
and this however is important, “the use of a power of attorney document generally
avoids the need for a court-monitored guardianship.
I’ve talked about powers of attorney in previous blog
posts. Creating a medical/health care
power of attorney and a financial power of attorney puts you in the driver’s
seat. You can change it any time without
going to court. So why don’t people
create wills and powers of attorney? The
article gives 4 reasons: 1) People aren’t aware of the importance of these
documents. 2) People do not want to pay
attorney fees. 3) People don’t have a
trusted family member or friend to assume the role. 4) People don’t want to
think about the future or about the possibility of future disability.
Bottom line: plan,
plan, plan. Investigate these documents
on the internet, contact a Bar Association in your state for a referral to an
attorney, and talk to friends and family.
Comments? I want to
hear from you.
