Involuntary adult guardianships exist because they are sometimes necessary. Health challenges and cognitive decline may prevent older adults from appropriately managing their own affairs. Guardians hold authority comparable to that of parents. They can make medical choices and decisions about daily life. Conservators may have legal authority over another adult’s assets.
When people can no longer consistently act in their own best interests, other adults can ask the courts for a degree of legal authority over them. Involuntary guardianship and conservatorship arrangements help ensure that someone competent makes daily living choices for vulnerable people. The support of a guardian or conservator can protect those experiencing challenges related to advanced age and major medical complications.
While they may be necessary, adult guardianships often make the news when something goes wrong. People with questionable intentions might seek legal authority to gain control over a person’s resources. Those concerned about the possibility of guardianship or conservatorship as they age can plan in advance to protect themselves with a single estate planning document.
Not all powers of attorney remain effective indefinitely
Drafting basic powers of attorney for financial and medical issues is a common step during estate planning. If a person has an emergency, they can rely on the agent or attorney-in-fact they appointed to manage their affairs.
Unfortunately, basic powers of attorney can lose their authority if the principal who drafted the documents becomes permanently incapacitated. Durable powers of attorney specifically include language that ensures the continuity of authority even after permanent incapacitation.
Those concerned about progressive medical conditions, decline associated with age and dementia may want to draft durable powers of attorney. They can select someone trustworthy as their agent long before support becomes necessary.
That person, rather than whoever chooses to take legal action, has authority should they become incapacitated. Durable powers of attorney effectively protect people from involuntary guardianships and conservatorships by allowing people to name their own candidates to hold legal and financial authority in advance before such support becomes necessary.
Creating a comprehensive estate plan that addresses a variety of challenging situations can help people optimize their legal and financial protection. Durable powers of attorney are a useful estate planning tool for those nearing retirement and others who may not have support available should they become permanently incapacitated.