When elderly people or children of deceased parents need financial oversight to ensure their financial affairs are in order, a conservatorship or guardianship can provide you with the legal authority needed to manage their affairs. At our offices our lawyers prepare all necessary paperwork and medical information needed when petitioning the court for the assignment of a conservatorship or guardianship. When mental capacity or undue influence is a concern, our attorneys consult qualified medical experts and geriatric specialists in order to evaluate an elderly person’s inability to order their affairs. As estate planning attorneys, we explore options for creating special needs trusts, irrevocable trusts, and the reallocation of assets when qualifying for Medicaid.
Today’s elder law and estate planning arena can be a complicated, confusing place. we have the knowledge and resources needed to protect the financial well-being of your loved one. To schedule a free consultation and learn more, contact our estate planning lawyers today.
When a person reaches the point where they are no longer able to order their own affairs due either to illness or age, the court can appoint an agent to manage their finances and estate. Typically, a medical examination and / or psychological evaluation is needed to establish a diminished mental / physical capacity. Once it has been established that a person is no longer capable of administering their own affairs, the court will appoint an agent to take care of the financial affairs of the person in question. It’s important to remember, however, that a conservator is required by law to file an annual report of a ward’s estate, as well as a tax return for them. Given the complicated nature of both, our attorneys assist conservators in preparing these and other documents as the need arises.
When a minor or disabled adult is unable to order their affairs or make decisions in their best interest, a guardianship provides a family member with the legal authority needed to act for them. As in the case of a conservatorship, the court will take into consideration the medical and psychological condition of a ward before determining what to do. Since guardianships are often effective means for ordering the financial affairs of disabled children and adults, they require financial accountability and transparency. Our lawyers not only help clients petition for guardianship, we also discuss estate planning options for further protecting your ward’s financial security.
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Each case is different, needing customized estate planning solutions that take into account a person’s financial situation and healthcare needs. In order to discuss the options available to you and your loved one, contact John Palley!
For more information about conservatorships and guardianships please visit CaliforniaConservatorshipLaw.com
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