What is Guardianship?
Guardianship is appointed when an individual proves unfit to make decisions for their best interests. This can be applied to adults who become incapacitated or as a key component of special needs planning. In the case of a minor, guardianship must be established because they need someone to care for them until they are adults and can care for themselves. Guardianship is granted for physical needs such as food and housing but excludes most financial decisions.
Conservatorship
Looking after an individual’s finances is called conservatorship. Similar to guardianship, conservatorship enables a person who is deemed “unable” to manage their own affairs to refer decisions to a responsible individual. Conservatorship is often granted in scenarios where an elder repeatedly falls victim to scams, or a special needs adult habitually engages in reckless spending. Conservatorship is exclusive to financial well-being whereas guardianship covers physical needs.
Power of Attorney Vs. Guardianship
Power of Attorney is instigated by an adult deemed to be “of sound mind” who selects a trusted individual to handle some aspect of affairs. Power of Attorney comes in several forms and can include issues such as medical decisions, overall finances, or even an isolated item or transaction.
Guardianship, on the other hand, is when a capable adult is granted authority to make decisions regarding the overall well-being of another adult or a minor. Guardianship includes virtually all aspects of a person’s physical well-being whereas Power of Attorney may or may not be extremely limited.
Voyant Understands Elder Law and Special Needs Planning
Voyant Legal has vast experience in establishing emergency guardianship when elder laws are broken. We also include conservatorship and guardianship as a key feature of our special needs planning. Whether you are looking to explore Power of Attorney for your own assets or establish guardianship for your children if the worst should happen to you, Voyant Legal has the expertise necessary to ensure your wishes are carried out.
