Your loved one should have a power of attorney.  That way, if they ever become incapacitated you can step in and manage their financial affairs.  However, if they become incapacitated and don’t have a power of attorney there is another, albeit less convenient, remedy available.  In that situation you might need a guardianship (or, depending on where you live a conservatorship) in order to assist them.

One big issue regarding a guardianship is the cost – they can be very expensive.  Who is going to pay the fees and expenses for the guardianship proceedings?  This podcast episode discusses that issue.

I hope your loved one can avoid the need for a guardianship by creating a good power of attorney.  But if they can’t then this episode might be very helpful.

Thanks for taking time out of your day to listen to the podcast and I will talk to you soon.

Casey

Podcast: Play in new window | Download

Subscribe: Android | RSS