Handeling Financial Assets for Loved Ones

Dealing with a loved one who is incapacitated is certainly one of the most difficult experiences of a lifetime. Whenever possible, we work with our clients to avoid the confrontational and often family-dividing legal remedy known as conservatorship for finances or guardianship for healthcare.

Avoiding conservatorship and guardianship issues should be one of your greatest motivators to see us for an adequate estate plan, so that in the event that you ever become incapacitated, no loved one will be faced with an adversarial court proceeding to have you declared incompetent.

A court-appointed conservatorship and guardianship is a protective arrangement established by the legal system on behalf of an incapacitated individual. Most frequently, conservatorships and guardianships are established on behalf of older adults who have lost mental capacity due to senile dementia, major strokes, severe mental illness, or other conditions.

The conservator of the property is in charge of making financial decisions on behalf of such an incapacitated individual. The guardian of the person is in charge of making healthcare decisions on behalf of the incapacitated individual.

It is important to note that if you have your durable power of attorney and advanced healthcare directives in place in advance of incapacity, there will be NO need for the courts to become involved. Your wishes will be carried out according to the documents that WE have prepared in advance on your behalf as a part of your Estate and/or Medicaid planning with our offices.

If you would like to discuss any of these issues, please call Attorney Meg Goblet at 719-686-9700.

400 W. Midland Ave., Suite 201| Woodland Park, CO 80866 | Ph: 719-686-9700 | Fax: 719-686-9701