Guardianship ? is a legal proceeding whereby a court appoints someone (the guardian) to become responsible for exercising all the legal rights of an incapacitated person, known as a ?ward?.
The guardianship process can be difficult for many families, and can be avoided through careful estate planning; here?s how:
Advance medical directive ? also known as health care power of attorney, this legal document lets you name someone to act on your behalf in case you become incapacitated and cannot make your own health care decisions.
Financial power of attorney ? gives an agent you name the power to make financial decisions for you in case of your incapacitation.? Financial powers of attorney can either be durable ? meaning it goes into effect as soon as the document is executed ? or springing, meaning the power of attorney only goes into effect if and when you have been declared mentally incompetent by a court or one or more doctors.
Revocable living trust ? one of the most efficient ways to avoid guardianship is by establishing a revocable living trust, funding it with your assets and naming someone as disability trustee.? You control the trust as long as you are competent; if you should become incapacitated (how this is to be determined should be spelled out), the disability trustee can take over and manage your assets for your benefit.
An experienced Annapolis estate planning attorney can help you understand all your options for estate planning.? Experienced Estate Planning Attorney Seth B. Zirkle can discuss all your options and create a plan with you.? Call Mr. Zirkle at Hyatt & Weber, P.A. today at 410-505-4553.
april 18 nfl schedule delonte west vanessa williams nicklas backstrom discovery shuttle allure
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.